Freeport Resources Announces Private Placement

Freeport Resources Inc. (TSXV: FRI,OTC:FEERF) (OTCQB: FEERF) (FSE: 4XH) ("Freeport Resources" or the "Company") announces that it will offer (the "Offering") up to 100,000,000 units (each, a "Unit") by way of non-brokered private placement at a price of $0.03 per Unit for gross proceeds of up to $3,000,000. Each Unit will consist of one common share of the Company, and one-half-of-one share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share at a price of $0.06 for a period of twelve months following issuance.

The Company anticipates utilizing the proceeds from the Offering for the continued development of the Yandera Copper Project and for general working capital purposes. At this time, the Company does not anticipate that any portion of the proceeds from the Offering will be used to conduct investor relations activities. The Company does not expect to utilize the proceeds of the Offering to make payments to non- arms' length parties, other than in the ordinary course of their compensation for services provided to the Company.

In connection with closing of the Offering, the Company may pay finders' fees to eligible third-parties who have assisted in introducing subscribers to the Offering. 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. Completion of the Offering remains subject to the approval of the TSX Venture Exchange.

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 kilometers.

Please visit www.freeportresources.com or contact the email address below for more information.

On behalf of the Board,
Freeport Resources Inc.
Gord Friesen, Chief Executive Officer
T. (236) 334-1660
E. gord@freeportresources.com 
www.freeportresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule", "intends" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270487

News Provided by Newsfile via QuoteMedia

FRI:CC
The Conversation (0)
Critical Mineral Resources

Drilling Ramping-up Following Oversubscribed Fundraise

Critical Mineral Resources plc (“CMR”, “Company”) is pleased to report that following the recently completed and heavily oversubscribed fundraise, diamond drilling with two rigs is ramping-up over the coming weeks as the weather improves. Drilling during H1 is designed to produce Agadir... Keep Reading...
Rick Rule, mine site.

Rick Rule: Oil/Gas Move is Inevitable, but Copper is Next Bull Market

Rick Rule, proprietor at Rule Investment Media, is positioning in the oil and gas sector, but thinks a bull market is two or two and a half years away. In his view, copper is likely to be the next commodity to begin a bull run.Click here to register for the Rule Symposium. Don't forget to follow... Keep Reading...
Phone with BHP logo, stock chart background.

BHP Expands 2026 Xplor Program with Record 10 Companies

Mining major BHP (ASX:BHP,NYSE:BHP,LSE:BHP) has named the early stage explorers selected for its 2026 Xplor program, expanding the intake to a record 10 companies.According to a Monday (February 2) press release, the latest cohort is the largest since the initiative launched in 2023, surpassing... Keep Reading...
Rows of fine copper bars with text that reads '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Vangaurd Mining Gains 141 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.Statistics Canada released November’s gross domestic product (GDP) data on Friday (January... Keep Reading...
Quarterly Activities and Cashflow Report

Quarterly Activities and Cashflow Report

Redstone Resources (RDS:AU) has announced Quarterly Activities and Cashflow ReportDownload the PDF here. Keep Reading...
Map of Southeast Asia, including India, China, Indonesia, and neighboring countries.

Freeport-McMoRan Plans 2026 Grasberg Restart After Deadly Mud Rush

Freeport-McMoRan (NYSE:FCX) is preparing to bring one of the world’s most important copper assets back online, laying out plans for a phased restart of the Grasberg mine in Indonesia following a deadly mud rush that halted operations late last year.The Arizona-based miner said remediation and... Keep Reading...

Interactive Chart

Latest Press Releases

Related News