Freeport Resources Advances Funding with Private Placement

Freeport Resources (TSE:FRI) has released an update.

Freeport Resources Inc. has successfully completed the second tranche of its non-brokered private placement, raising $787,761 through the issuance of over 15 million units at $0.05 each, with attached half warrants allowing additional share purchases at $0.25 until 2026. The company, which is advancing the large Yandera copper-gold-molybdenum project in Papua New Guinea, also paid finders’ fees for the introduction of subscribers to the offering and is expecting to finalize another tranche by mid-May 2024.

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