Mr. Blair Naughty reports
NAUGHTY VENTURES CORP. ANNOUNCES ACQUISITION OF NON-VOTING PREFERRED SHARES OF FREEPORT RECOVERY GROUP INC.
Pursuant to a subscription agreement, Naughty Ventures Corp. has acquired 2.5 million non-voting preferred shares of Freeport Recovery Group Inc. at a price of 10 cents per share for a total investment of $250,000.
Freeport Recovery Group is a privately held company focused on the acquisition, development and operation of recovery-based businesses, with an emphasis on asset recovery, specialty services and scalable cash-flow-generating operations. Freeport's management team brings extensive experience in operations, restructuring and value creation across multiple industries.
Blair Naughty, chief executive officer and president of Naughty Ventures, commented: "This investment reflects our continued focus on disciplined capital allocation and strategic investments outside of traditional mineral exploration. I had the opportunity to personally visit Freeport Recovery Group's facilities and spend time with both management and operating personnel, and I was extremely impressed. The facility is a first-class establishment, and the professionalism, culture and commitment of the team were immediately evident.
"Beyond the operational strengths of the business, this investment also resonates with me on a personal level. Over the course of my career and personal life, I have seen the devastating impact that addiction and mental health challenges can have on individuals, families and communities. Like many people, I have lost friends to addiction, witnessed the effects of substance abuse and gambling addiction on loved ones, and have personal experience with these challenges earlier in my life. Nearly everyone has been touched in some way by these issues.
"In addition to Naughty Ventures' investment, I have also made a personal investment of $250,000 in Freeport through my private corporation, Canal Front Investments, to match the company's subscription. While we would have liked to invest additional capital based on our conviction in the opportunity, capital allocation considerations and exchange requirements limited the company's investment at this time. This is a business we feel very good about supporting, both personally and at the company level, and both Naughty Ventures and I intend to continue supporting Freeport as opportunities to invest further become available."
About Naughty Ventures Corp.
Naughty Ventures is a Canadian exploration and investment company focused on acquiring, developing and strategically positioning mineral assets with strong value potential as well as investing in select private and public companies with exceptional management and high-growth opportunities.
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