Freeport closes $100,500 third tranche of placement

Executive Summary

• Freeport Resources Inc. has closed the third tranche of its non-brokered private placement, raising approximately $100,500 through the issuance of 3.35 million units.
• The company has now raised a total of $2,438,350 from 81,278,331 units across all completed tranches of the offering.
• The company has secured an extension from the TSX Venture Exchange to close the fourth and final tranche, anticipated for on or about January 9, 2026, subject to regulatory approval.

Key Details

• Third Tranche Details:
  • Issued 3.35 million units at a price of $0.03 per unit.
  • Aggregate gross proceeds of approximately $100,500.
  • Each unit consists of one common share and one-half of one share purchase warrant.
  • Warrants entitle holders to acquire additional common shares at $0.06 per share for a period of 12 months following issuance.
• Total Offering Status:
  • Original offering size: Up to 116,666,666 units at $0.03 per unit for gross proceeds up to $3.5 million.
  • Cumulative gross proceeds raised to date: $2,438,350.
  • Cumulative units issued to date: 81,278,331 units.
• Use of Proceeds:
  • Continued development of the Yandera copper project.
  • General working capital purposes.
• Finder’s Fees and Compensation:
  • Paid $5,025 in finders' fees to an arm's-length party for introducing a subscriber.
  • Previously issued 2,106,700 warrants to Daniel Fox-Davies (sole owner of IStar Capital Ltd.) for assistance with the offering.
• Regulatory and Timeline Updates:
  • All securities are subject to a 4-month-and-1-day hold period (resale restriction).
  • TSX Venture Exchange granted an extension for the fourth and final tranche.
  • Anticipated closing date for the final tranche: On or about January 9, 2026.
  • Completion of the final tranche remains subject to TSX Venture Exchange approval.