Fredonia Mining Inc. Announces Private Placement Financing
Summary
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA.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. (collectively, the Project), all within the Deseado Massif geological region in the Province of Santa Cruz, Argentina, including the following principal areas: El Aguila (approximately 9,100 ha. located close to AngloGold Ashantis Cerro Vanguardia mine, subject to a 1.5% net smelter return royalty on the EDM project, and a 0.5% net profits interest on Winki II, El Aguila I, El Aguila II and Hornia (ex Petrificados).For further information: Please visit the Company website www.fredoniamanagement.com or contact: Omar Salas, Chief Financial Officer, Direct: +1-416-846-7807, Email: omar.salas@icloud.comThis news release contains "forwardlooking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties or other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Company does not undertake, and assumes no obligation, to update or revise any such forward looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.