Freeport Resources Announces Private Placement

Executive Summary

• Freeport Resources Inc. announced a non‑brokered private placement of up to 100 million Units at $0.03 per Unit, targeting gross proceeds of up to $3 million.
• Each Unit consists of one common share and half of a share purchase warrant; each full warrant allows the holder to buy an additional share for $0.06 within twelve months.
• Proceeds are earmarked primarily for continued development of the Yandera Copper‑Gold‑Molybdenum Project and general working capital.

Key Details

• Offering Size: Up to 100,000,000 Units.
• Price per Unit: $0.03.
• Maximum Gross Proceeds: $3,000,000.
• Unit Composition:
• 1 common share of Freeport Resources Inc.
• ½ share purchase warrant (each full warrant grants the right to acquire one additional common share at $0.06).
• Warrant Terms: Exercise price $0.06 per share; exercisable for twelve months from issuance.
• Use of Proceeds:
• Continued development of the Yandera Copper Project in Papua New Guinea.
• General working capital purposes.
• No anticipated use for investor‑relations activities or payments to non‑arms‑length parties beyond ordinary compensation.
• Finder’s Fees: Company may pay eligible third‑party finders who introduced subscribers to the Offering.
• Resale Restrictions: All securities issued are subject to a four‑month‑and‑one‑day resale restriction under applicable securities laws.
• Closing Conditions: Completion of the Offering is subject to approval by the TSX Venture Exchange.

Notable Quotes

• “The capital raised will enable us to advance the Yandera project and sustain our operational momentum,” – Gord Friesen, Chief Executive Officer.