Freeport increases private placement to $7-million

Jun 17, 2024

2024-06-17 14:44 ET – News Release

Mr. Gord Friesen reports

FREEPORT ANNOUNCES PRIVATE PLACEMENT UPSIZE

Due to market demand, Freeport Resources Inc. has elected to increase the size of its continuing non-brokered private placement offering. The offering will now consist of up to 140 million units at a price of five cents per unit for gross proceeds of up to $7-million. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share of the company at a price of 25 cents for a period of 24 months.

The company has issued a total of 88,697,220 units to date, in earlier tranches of the offering, for gross proceeds of $4,434,861. Completion of a final tranche of the offering remains subject to the approval of the TSX Venture Exchange and is expected to occur on or before June 28, 2024. All securities issued in connection with the offering will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws.

About Freeport Resources Inc.

Freeport Resources is a Canadian mineral exploration company with a primary focus on advancing the development of the Yandera copper-gold-molybdenum project, located in Madang province, Papua New Guinea. The Yandera project is one of the largest undeveloped copper-gold deposits in the world covering approximately 245.5 square kilometres.

We seek Safe Harbor.

https://www.freeportresources.com/