This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Freeport Closes First Tranche Of Financing

TSX Venture Exchange:  FRI Shares Issued:    14,226,232

VANCOUVER, Dec. 28, 2011 /PRNewswire/ - Freeport Resources Inc. (TSXV-FRI) is pleased to announce  closing of the first tranche of a non-brokered 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-flow-through 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.

Our 100% owned properties include the Hutton Garnet Beaches, a high grade heavy mineral sands project advancing to the production stage in NL, and three projects in BC:  a) Spanish Mountain Gold, immediately adjacent to and on strike with an advanced stage, multi-million ounce gold project; b) The Q, a large, advanced stage fluorspar deposit with associated molybdenite, and; c) the Red Rose Mine, a past producing tungsten-gold-copper mine, of increasing interest due to strong tungsten demand and all-time highs up to $470/MTU (approx. $21.50/pound).

Freeport thanks our friends and shareholders for their continued support, with best wishes to all for the holiday season.

Freeport Resources, founded in 1981, is a mineral exploration company with a diversified portfolio of Canadian properties, from precious and base metals to industrial minerals. Our new Spanish Mountain presentation is at http://www.freeportresources.com/i/pdf/spanishmt2011.pdf  and our Hutton presentation is at http://www.freeportresources.com/i/pdf/Hutton2011.pdf. Please visit our website at www.freeportresources.com or email info@freeportresources.com for further information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour. 

Freeport Resources Inc. Brenda Clark, MAIBC President & CEO 1-888-275-7335 (toll free) (604) 275-7335 (tel.) Email:  freeportresources@shaw.ca Web:  www.freeportresources.com



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,098.45 +18.88 0.11%
S&P 500 2,003.37 +6.63 0.33%
NASDAQ 4,580.2710 +22.5760 0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs