TORONTO, Jan. 15, 2024 (GLOBE NEWSWIRE) — Fredonia Mining Inc. (TSXV: FRED) (the “Company” or “Fredonia“) announces it intends to complete a proposed private placement financing (the “Offering“) for total proceeds of approximately $500,000, consisting of 10,000,000 common shares of the Company (the “Common Shares“) at a price of $0.05 per Common Share.
The net proceeds from the Offering are intended to be used for working capital and general corporate purposes.
The Offering is expected to close on or about January 23, 2024 (the “Closing Date“), subject to regulatory approvals and customary closing conditions, including approval for listing of the Common Shares on the TSX Venture Exchange. All Common Shares issued pursuant to the Offering will be subject to a hold period of four months and one day.
The Common Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S….
