Freeport Resources Announces Increase in Private Placement
Rhea-AI Summary
Freeport Resources (OTCQB: FEERF) said it has increased its non-brokered private placement to up to 116,666,666 Units for gross proceeds of up to $3,500,000. Each Unit consists of one common share and one-half warrant; each whole warrant is exercisable at $0.06 for 12 months. The Company completed a first tranche of 53,828,332 Units for gross proceeds of $1,614,850.
The Company expects to use proceeds for continued development of the Yandera Copper Project and general working capital, does not anticipate using proceeds for investor relations, and may pay finders' fees. All securities will be subject to a four-month-and-one-day resale restriction and the Offering is subject to TSX Venture Exchange approval.
Positive
- Offering increased to $3.5M capacity
- First tranche raised $1,614,850 via 53,828,332 Units
- Proceeds designated for Yandera Copper Project development
- Warrants exercisable at $0.06 for 12 months
Negative
- Potential dilution of up to 116,666,666 new shares
- Completion depends on TSXV approval
- Issued securities subject to four-month-and-one-day resale hold
Vancouver, British Columbia--(Newsfile Corp. - December 11, 2025) - Freeport Resources Inc. (TSXV: FRI) (OTCQB: FEERF) (FSE: 4XH) ("Freeport Resources" or the "Company") is pleased to announce that it has elected to increase the size of its previously announced non-brokered private placement (the "Offering") in response to additional market interest.
The Company now intends to offer up to 116,666,666 units (each, a "Unit") for gross proceeds of up to
To date, the Company has completed the first tranche of the Offering through the issuance of 53,828,332 Units for gross proceeds of
The Company anticipates utilizing the proceeds from the Offering for the continued development of the Yandera Copper Project and for general working capital purposes. At this time, the Company does not anticipate that any portion of the proceeds from the Offering will be used to conduct investor relations activities. The Company does not expect to utilize the proceeds of the Offering to make payments to non-arms' length parties, other than in the ordinary course of their compensation for services provided to the Company.
In connection with closing of the Offering, the Company may pay finders' fees to eligible third-parties who have assisted in introducing subscribers to the Offering. All securities issued in connection with the Offering will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws. Completion of the Offering remains subject to the approval of the TSX Venture Exchange.
About Freeport Resources Inc.
Freeport Resources is a Canadian mineral exploration company with a primary focus on advancing the development of the Yandera copper-gold-molybdenum project, located in Madang Province, Papua New Guinea. The Yandera project is one of the largest undeveloped copper-gold deposits in the world covering approximately 245.5 square kilometers
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
T. (236) 334-1660 or gord@freeportresources.com
E. gord@freeportresources.com
www.freeportresources.com
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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277700
FAQ
What change did Freeport Resources (FEERF) announce on December 11, 2025?
How many Units and proceeds were closed in the first tranche for FEERF?
What does each Unit in FEERF's offering include and what are the warrant terms?
How will FEERF use the proceeds from the private placement?
Will FEERF use offering proceeds for investor relations or related-party payments?
Are there resale restrictions or approvals required for FEERF's Offering?
