Freedom Gold Corp. Issues 2.5 Million Shares as Partial Consideration for Mineral Property Option

en.Wedoany.com Reported - Freedom Gold Corp. (CSE: FRDM, formerly SPOD Lithium Corp.) issued a total of 2,500,000 common shares on July 9, 2026, as partial consideration for an option to acquire a 100% interest in four mineral projects in Nova Scotia, Canada. Pursuant to an option agreement signed with 21Alpha Resources Inc. on June 4, 2026, Freedom Gold Corp. holds the option to acquire interests in the Blockhouse, Widow Point, Frenchvale, and Westfield properties. The shares issued in this tranche are subject to a four-month hold period expiring on November 7, 2026.

Gravel Developments Inc. (GDI) acquired 1,181,250 shares in this issuance, representing more than 10% of the issued and outstanding shares. Immediately prior to the issuance, GDI owned and controlled or directed 22,000 shares, representing 0.35% of the issued and outstanding shares (on an undiluted basis). Immediately following the issuance, GDI beneficially owns and controls or directs 1,203,250 shares, representing approximately 13.72% of the issued and outstanding shares (on an undiluted basis). Under the option agreement, the Company may issue up to a total of 4,252,500 shares to GDI over a maximum period of 36 months. The first tranche of 1,181,250 shares was issued upon the signing of the option agreement. Subject to conditions, GDI may receive an additional 472,500 shares on or before the 18-month anniversary of the effective date of the option agreement, 945,000 shares on or before the 24-month anniversary, and 1,653,750 shares on or before the 36-month anniversary. The shares issued to GDI are subject to a statutory hold period of four months plus one day and an extended hold period for restricted resale imposed by the CSE.

John Shurko Inc. (JSI) acquired 1,181,250 shares in this issuance, representing more than 10% of the issued and outstanding shares. Immediately prior to the issuance, JSI owned and controlled or directed 1,533 common shares, representing 0.02% of the issued and outstanding shares (on an undiluted basis). Immediately following the issuance, JSI beneficially owns and controls or directs 1,182,783 shares, representing approximately 13.49% of the issued and outstanding shares (on an undiluted basis). Under the option agreement, the Company may issue up to a total of 4,252,500 shares to JSI over a maximum period of 36 months. The first tranche of 1,181,250 shares was issued upon the signing of the option agreement. Subject to conditions, JSI may receive an additional 472,500 shares on or before the 18-month anniversary of the effective date of the option agreement, 945,000 shares on or before the 24-month anniversary, and 1,653,750 shares on or before the 36-month anniversary. The shares issued to JSI are subject to a statutory hold period of four months plus one day and an extended hold period for restricted resale imposed by the CSE.