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Freeport Resources has successfully closed the fourth tranche of its non-brokered private placement, raising $1,508,850. The company issued 30,177,000 units at $0.05 per unit. Each unit comprises one common share and one-half of a common share purchase warrant, with each full warrant allowing the purchase of an additional common share at $0.25 until May 31, 2026. In connection with this tranche, the company paid finders' fees of $600 and issued 12,000 share purchase warrants to certain arms-length parties. All securities issued are subject to resale restrictions until October 1, 2024. The company has received an extension from the TSX Venture Exchange to complete the offering by June 14, 2024.
Freeport Resources has successfully closed the third tranche of its non-brokered private placement, raising gross proceeds of $934,250. The company issued 18,685,000 units at $0.05 per unit, with each unit comprising one common share and one-half-of-one common share purchase warrant. Each whole warrant allows the purchase of an additional share at $0.25 until May 17, 2026. Finders' fees of $16,000 were paid, and 320,000 share purchase warrants were issued to arms-length parties. All securities from this tranche are under resale restrictions until September 18, 2024. Freeport has extended the deadline for the offering with the TSX Venture Exchange and aims to complete the final tranche by May 31, 2024.
Freeport Resources Inc. announced the closure of the second tranche of its non-brokered private placement offering, generating $787,761 in gross proceeds. The Company issued 15,755,217 units at $0.05 per unit, each comprising a common share and a half common share purchase warrant. The completion of the first tranche involved paying finders' fees of $14,000 and issuing 280,000 share purchase warrants to introducing parties. All securities are subject to resale restrictions until August 30, 2024. The TSX Venture Exchange granted an extension for completion of the Offering, with the final tranche expected to be finalized by May 15, 2024.