On July 2, 2024, Freeport Resources Inc. closed the transaction. The company has issued 16,010,900 units at a price of CAD 0.05 per unit for the gross proceeds of CAD 800,545 in its fifth and final tranche closing. Each Warrant entitles the holder to acquire an additional common share of the company at a price of CAD 0.25 until June 28, 2026.

In connection with completion of final tranche of the Offering, the company paid finders fees of CAD 5,600 and issued 112,000 Warrants, exercisable at a price of CAD 0.25 until June 28, 2026, to certain arms-length parties who assisted in introducing subscribers to the Offering. All securities issued under the final tranche of the Offering are subject to restrictions on resale until October 29, 2024 in accordance with applicable securities laws. Following completion of the final tranche, the company has raised gross proceeds CAD 5,235,405.85 through the issuance of 104,708,117 units in connection with the Offering.