07:56 AM EST, 03/08/2024 (MT Newswires) -- Freegold Ventures Limited ( FGOVF ) said Friday that it has upsized its previously announced private placement to $10 million.

The offering comprises 25 million units priced at $0.40 apiece. Each unit comprises one share and one-half of a warrant. Each warrant is exercisable at $0.52 per share for 24 months.

Freegold ( FGOVF ) will use the proceeds for general corporate and working capital purposes. The company is advancing the Golden Summit gold project and the Shorty Creek copper-gold project in Alaska.

Closing is expected on or about March 26.

The company fell 5.7% yesterday.