Freeport Resources (TSE:FRI) has released an update.
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Freeport Resources Inc. has successfully closed the third tranche of its non-brokered private placement, raising $934,250 through the issuance of over 18 million units at $0.05 each, with each unit comprising one common share and a half warrant. The company also paid finders’ fees and issued additional warrants for assistance in the offering, which is subject to a resale restriction until September 2024. A final tranche is expected before the end of May 2024, as Freeport continues to focus on the development of its significant Yandera copper-gold project in Papua New Guinea.
For further insights into TSE:FRI stock, check out TipRanks’ Stock Analysis page.