Freeport Resources Inc. announced a non-brokered private placement of up to 60,000,000 units at a price of CAD 0.05 per unit for gross proceeds of up to CAD 3,000,000 on January 9, 2023. Each unit consists of one common share and one half of one warrant. Each whole warrant will entitle the holder to purchase one common share at an exercise price of CAD 0.10 per share at any time within 18 months after closing.

All securities to be issued in the transaction will be subject to a 4 month and one day hold period. The transaction is subject to receipt of all required regulatory and TSX Venture Exchange approvals.