Freeman Gold Corp. (CSE: FMAN) (FSE: 3WU) is pleased to announce that it has closed the previously announced bought deal public offering of common shares of the Company for aggregate gross proceeds of approximately $10.35 million. The Company issued 20,690,000 common shares, including common shares issued pursuant to the exercise of the over-allotment option.

The Offering was conducted by Canaccord Genuity Corp. and Stifel GMP, as co-lead underwriters, and PI Financial Corp. and INFOR Financial Inc.  The Company issued to the Underwriters broker warrants to acquire an aggregate of 1,418,650 common shares of the Company, exercisable at any time prior to July 28, 2022 at the exercise price of $0.50 per common share.

Freeman intends to use the proceeds of the Offering for exploration work on the Company’s Lemhi gold project in Idaho, USA and its Comstock property in British Columbia, Canada with additional proceeds utilized for general and administrative expenses and working capital.

Freeman’s Chief Executive Officer and Director, Will Randall, commented, “We thank existing shareholders, new investors and the syndicate of Underwriters for their support via this oversubscribed bought deal financing. The strong demand is a testament to the quality and potential of the Lemhi gold project located in Idaho, USA. These funds will allow Freeman to complete a work program as the Company works toward a maiden National Instrument 43-101 compliant gold mineral resource estimate, focusing on near surface, oxide material defined by previous operators. We look forward to keeping you updated as we progress.”

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Freeman Gold Corp.

The Company is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the USA. The Company has two mineral projects, the Lemhi Gold Project located in Idaho, USA comprising over 7,500 acres of patented and unpatented claims and the Comstock Property located near Merritt, British Columbia, Canada.