Freedom Gold Corp. has closed the first tranche of its non-brokered private placement, raising gross proceeds of C$312,000 through the issuance of 2,600,000 units priced at C$0.12 each.

Each unit consists of one common share and one common share purchase warrant, with each whole warrant entitling the holder to acquire an additional common share at an exercise price of C$0.18 for 24 months from issuance. In connection with the tranche, the company paid C$5,040 in cash finders' commissions and issued 42,000 non-transferable finder's warrants carrying the same exercise price and 24-month term.

Proceeds from the offering will support general working capital requirements. All securities issued are subject to a four-month and one-day statutory hold period. An insider of Freedom Gold indirectly subscribed for 200,000 units, qualifying the subscription as a related-party transaction under Multilateral Instrument 61-101. The company relied on exemptions from formal valuation and minority shareholder approval requirements as the fair market value of the insider's participation remained below 25% of the company's market capitalisation.

The financing closes as gold trades at US$4,375.60 per ounce, reflecting a 7.75% increase over the 30-day period ending August 14, 2026. Freedom Gold holds a portfolio of seven active mineral projects, including the Frenchvale, Westfield, and Widow Point properties located in Nova Scotia.

Read the full announcement: Freedom Gold Corp. Announces Closing of First Tranche of Private Placement Offering of Units