Business
Freeport Announces Private Placement Upsize
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Freeport Resources Inc. (TSXV: FR...
About this update from Freeport Resources Inc.
[{"type":"text","content":"Freeport Announces Private Placement UpsizeVancouver, British Columbia--(Newsfile Corp. - June 17, 2024) - Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) (\"Freeport Resources\" or the \"Company\") is pleased to announce that due to market demand it has elected to increase the size of its ongoing non-brokered private placement offering (the \"Offering\"). The Offering will now consist of up to 140,000,000 units (each, a \"Unit\") at a price of $0.05 per Unit for gross proceeds of up to $7,000,000. Each Unit consists of one common share and one-half-of-one common share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder to acquire an additional common share of the Company at a price of $0.25 for a period of twenty-four 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 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 OfficerT. (236) 334-1660 or [email protected]. [email protected] 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\"...