Early Warning Report
NEWS RELEASE November 20, 2019
Early Warning Report
VANCOUVER, CANADA 1.888.275.7335 Toll free Tel TSX Venture Exchange: FRI 604.275.7335 Tel Shares Issued: 16,831,232 1.888.275.8549 Toll free Fax
Vancouver, British Columbia – (November 20, 2019) – Freeport Resources Inc. (TSX-V: FRI) (“Freeport” or "the Issuer") and Brenda Clark advise an early warning report was filed yesterday. The occurrence triggering the requirement to file an early warning report and this press release is grant of probate (“Probate”) on November 13, 2019, appointing Brenda Clark as Executor ("the Executor") of the Estate of Edith I.V. Clark ("Edith Clark" or "The Estate"), as required under applicable Canadian securities laws. Edith Clark was a majority shareholder and spouse of Freeport's founder, William George Clark (see Company news release dated April 5, 2018).
The Estate owns or otherwise exercises control or direction over 4,255,573 common shares in the capital of the Issuer (the "Common Shares"), registered to Edith Clark and Clarkdale Financial Corporation, Ltd., a corporation controlled by the Estate. This represents approximately 25.3% of the issued and outstanding Common Shares. Immediately prior to grant of Probate, Brenda Clark beneficially owned 1,542,541 Common Shares, representing 9.2% in the capital of the Issuer. Following grant of probate, the Executor beneficially owns or otherwise exercises control or direction over 5,798,114 Common Shares, representing 34.45% of the Common Shares issued and outstanding at November 20, 2019.
Ms. Clark has no present intention of increasing the number of securities of the Issuer she beneficially owns, or over which the Executor has direction and control. An early warning report with additional information regarding this matter is filed under the Company’s profile on the System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com, and is available at 8711 Elsmore Road, Richmond BC V7C 2A4 or by email request at [email protected].
About Freeport
Freeport is a Canadian junior exploration company with a diverse portfolio of properties -- the Red Rose Mine (a past producer of tungsten-gold-copper), Spanish Mountain Gold (adjacent to a proposed open-pit gold mine), and the Q (a large, well-known fluorspar deposit), all located in British Columbia. The Hutton Garnet Beaches in Labrador, eastern Canada, has a positive NI43- 101 Prefeasibility (2004), and a 5000 tonne bulk sample released from environmental assessment. Please visit www.freeportresources.com or contact us for more information.
Freeport Resources Inc.
Brenda Clark Architect AIBC, President & CEO 1-888-275-7335 (toll free)
(604) 275-7335 (tel.)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. We seek Safe Harbour.
Email: [email protected] Web: www.freeportresources.com