09:10 AM EDT, 08/19/2025 (MT Newswires) -- Freeman Gold ( FMANF ) , trading at a 52-week high, overnight Monday said it closed its previously announced $5 million non-brokered private placement of unsecured convertible debentures.

The debentures are unsecured obligations that mature on August 18, 2030, and bear interest at a rate of 10% per annum. Proceeds will be used for permitting the Lemhi Gold project, the company said.

As previously disclosed, debenture holders can elect to receive the interest amount in shares or in cash payable at maturity.

Shares of the company closed up 5.3% at $0.20 on Monday on the TSX Venture Exchange.