Freeport Announces Closing of Second Tranche of Private Placement
Web: www.freeportresources.com
NEWS RELEASE February 28, 2023
Freeport Announces Closing of Second Tranche of Private Placement
Vancouver, British Columbia – (February 28, 2023) – Freeport Resources Inc. (the
“Company”) is pleased to announce that it has closed a second tranche of its non-brokered
private placement offering (the “Offering”) for gross proceeds of $633,000. In connection with
completion of the second tranche of the Offering, the Company has issued 12,660,000 units
(each, a “Unit”) at a price of $0.05 per Unit. Each Unit consists of one common share, and one-
half-of-one common share purchase warrant. Each whole warrant entitles the holder to acquire
an additional common share of the Company at a price of $0.10 until August 28, 2024.
In connection with completion of second tranche of the Offering, the Company paid finders’
fees of $43,840 and issued 384,000 Units to certain arms-length parties who assisted in
introducing subscribers to the Offering.
All securities issued under the Offering are subject to restrictions on resale until July 1, 2023 in
accordance with applicable securities laws.
The Company intends to close a third and final tranche of the Offering for gross proceeds of
up to $949,183 by mid-March.
About Freeport Resources Inc.
Freeport Resources Inc. is a copper-centric resource company based in Vancouver, BC. It is
focused on the development of its Yandera copper project located in Papua New Guinea.
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
(236) 334-1660 or [email protected]
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
Web: www.freeportresources.com
factors, both known and unknown, could cause results, performance or achievements to be materially different
from the results, performance