Freewest raises drilling funds

Junior Freewest Resources Canada (FWR-M) has raised $245,000 to explore two gold properties in New Brunswick.

The funds were raised through a private placement of 980,000 treasury shares priced at 25 cents per share. Each share is accompanied by a warrant entitling the holder to buy another share for 32.5 cents up to 18 months after closing.

Freewest plans to carry out a 1,300-metre program of diamond drilling at its wholly owned Golden Ridge property as well as begin work at the newly acquired Clarence Stream skarn property.