Freeport Confirms Effective Date for Share Consolidation
Web: www.freeportresources.com
NEWS RELEASE May 8, 2020
Freeport Confirms Effective Date for Share Consolidation
Vancouver, British Columbia – (May 8, 2020) – Freeport Resources Inc. (TSX-V: FRI) (“Freeport”,
or the “Company”) announces that effective at the close of business on May 12, 2020 it will
consolidate its common share capital on a five-for-one basis (the “Consolidation”). Effective at the
opening of markets on May 13, 2020, the common shares of the Company will commence trading
on a post-Consolidation basis under the existing ticker symbol “FRI”.
The Consolidation is intended to facilitate a non-brokered private placement being completed by the
Company, and as announced on May 1, 2020. Freeport currently has 16,831,232 common shares
outstanding. F ollowing completion of the Consolidation, it is expected to have approximately
3,366,246 shares outstanding.
No fractional shares will be issued in connection with the Consolidation. Shareholders who would
otherwise be entitled to receive a fraction of a common share will be rounded to the nearest whole
number of common shares and no cash consideration will be paid in respect of fractional shares.
Registered holders of common shares of t he Company will receive a letter of t ransmittal from
Computershare Investor Services Inc. with instructions on how to exchange existing share
certificates for new post-Consolidation share certificates.
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 NI 43-101
Prefeasibility (2004), and a 5000 tonne bulk sample released from environmental assessment.
Please visit www.freeportresources.com or contact us 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” and similar words or expressions identify forward-looking statements or
information. T hese forward-looking statements or information may relate to completion of the Consolidation, and other factors 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 factors, both known and unknown, could cause
results, performance or achievements to be materially different from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update
these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events
affecting such statements and information other than as required by applicable laws, rules and regulations.