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|Wed Dec 28, 2011
Freeport Closes First Tranche of Financing
Freeport Resources Inc. (TSXV-FRI) is pleased to announce closing of the first tranche of a nonbrokered private placement announced last month. A total of $521,000 has been received from the issuance of 105,000 flow through shares at $0.20 per share and 2,500,000 non-flow through shares at $0.20 per share. These shares are subject to a four month hold period expiring April 24, 2012. Finders' fees in the amount of $25,000 cash are payable in connection with the issuance of
these shares. The second tranche is expected to close by mid-January 2012. As previously announced, Freeport intends to raise up to $1,060,000 from issuance of up to 5,000,000 non-flowthrough and 300,000 flow-through shares, at a price of $0.20 per share. Proceeds will be used to further advance Freeport's exploration programs in Canada and meet ongoing working capital requirements.
|Fri Nov 18, 2011
Freeport Arranges Financing for Spanish Mt. Gold, Hutton & Q Projects
Freeport Resources Inc. (TSX-V: FRI) is pleased to announce it will undertake a non-brokered private placement to raise up to $1,060,000 from issuance of up to 5,000,000 non-flow-through and 300,000 flow-through shares, to be issued at a price of $0.20 per share. The first tranche of $300,000 has been received. Closing is anticipated to occur on or before December 15, 2011. Securities will be subject to a four month hold period and TSX-Venture Exchange approval. A 5% finder's fee on the non-flow-through shares is payable. Proceeds are for working capital and exploration of Freeport's 100%-owned properties in Canada.
|Mon Jul 25, 2011
Freeport Outlines Spanish Mountain Gold Developments
Freeport Resources Inc. is pleased to provide an update on developments at its Spanish Mountain claims, which are largely surrounded by a multi-million ounce gold project held by Spanish Mountain Gold Ltd. ("SMGL") (SPA-TSXV, formerly Skygold). SMGL recently closed a $20 million financing, and released a Preliminary Economic Assessment (PEA) in December 2010. Gold mineralization is proven to extend on Freeport's claims, which are on strike and less than half a mile from the proposed open pit. See map at http://www.freeportresources.com/i/maps/SMG-pit.gif . Spanish Mountain is road accessible and close to several operating mines.