Fairchild Gold Announces Upsizing of Its Private Placement

Fairchild Gold Corp. (FAIR) has upsized its previously announced non-brokered private placement, increasing the total aggregate gross proceeds to up to $2,200,000. The company intends to raise an additional $400,000 through the issuance of up to 6,666,666 units at $0.06 per unit to meet increased demand. Net proceeds are designated for the completion of the Golden Arrow Project acquisition and general working capital purposes.
Each Unit consists of one Common Share and one Common Share Purchase Warrant. Each whole Warrant is exercisable into one additional Common Share at an exercise price of $0.10. The warrants expire 60 months from the date of issuance. Securities are subject to a hold period of four months and one day from the closing date.
Closing is subject to regulatory approvals, including TSX Venture Exchange approval. Certain insiders may participate in the offering; the company intends to rely on exemptions from formal valuation and minority shareholder approval requirements under MI 61-101. No finder's fee was paid. A material change report will be filed less than 21 days prior to closing.