Freedom Internet Group Inc. Announces Closing on $509,000 of Rule 506(c) Private Securities Offering

SAN JUAN, PR / ACCESSWIRE / October 7, 2020 / Freedom Internet Group Inc., a provider of business to business consulting services, centralized management services and revenue-based financing to Internet-focused entrepreneurs, today announced that it closed on $509,000 of its general solicitation private placement offering ("Offering") that was made solely to accredited investors under Rule 506(c) of Regulation D promulgated by the Securities and Exchange Commission under the Securities Act of 1933, as amended ("Securities Act").

The company offered up to 3,000 units at a price of $600 per unit. The units were sold on a "best efforts" basis, directly through the efforts of our chief executive officer and our chief financial officer. Each unit ("Unit") consisted of 100 shares of Company common stock and a warrant to purchase an additional 100 shares of Company common stock at an exercise price equal to $8 per share. 834 Units were sold for proceeds of $509,000. The Offering is now closed. The company intends to use the proceeds from the Offering to fund its anticipated growth including, to purchase additional royalty interests.

The Offering proceeds, together with the proceeds from the Company's 2019 Series 1 SAFE (simple agreements for future equity) offering approximates more than $2.3M from more than 50 accredited investors. Pursuant to the terms of the Series 1 SAFEs, as amended, each outstanding Series 1 SAFE will automatically convert into common shares of Company upon the Company receiving gross proceeds of not less than $500,000 in an equity financing (the Next Equity Financing). The SAFE conversion price is the price per share of the Next Equity Financing minus a discount of 45%. The closing of the Offering, which qualified as a Next Equity Financing, triggered the automatic conversion of the Series 1 SAFEs into 549,901 shares of Company common stock.

Pursuant to the terms of the registration rights contained in the Offering, our company will file a registration statement on Form S-1 to register as soon as practicable, but no later than ninety (90) calendar days from the termination date of the Offering the resale of the Registrable Securities (defined in the Offering) that were issued pursuant to the Offering, along with the shares that were converted pursuant to the terms of the Series 1 SAFEs.

As described in our Form 8-K filed on October 1, 2020, our company effectuated a three-for-one stock split of its common stock in the form of a stock dividend (the "Stock Split") so that each shareholder of record as of the close of business on October 1, 2020, is entitled to receive on or as soon as practicable after October 1, 2020, and without surrender of any certificates for its shares, two additional shares of our common stock for each share of common stock held. Additionally, all outstanding warrants are accordingly adjusted.

We hope to have the S-1 Registration Statement declared effective and to become eligible to trade on the OTC Markets by early 2021, although we cannot assure you that this will happen at that time, or if at all.

All of us at the company hope that we will be able to achieve great things for you as a shareholder, and we thank you again for your confidence and support and for being part of our team.

For more information about our company, please visit: www.figiroyalty.com

Thank you.

Noah Rosenfarb
Ron Rosenfarb
Ace Chapman

About Freedom Internet Group Inc.

Freedom Internet Group Inc. is engaged in the business of acquiring, holding and managing royalty interests derived from Internet based businesses, referred to as operators. Royalty interests are passive (non-operating) agreements that provide us with contractual rights to a percentage of revenue produced from operators. The revenue generated by operators is typically from physical or digital product sales, subscriptions and advertising.

Safe Harbor Statement

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continues," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, pandemics those events and factors described by us in the "Risk Factors" section of our most recent prospectus, as amended; the private placement memorandum related to the Offering; other risks to which our Company is subject; and other factors beyond our company's control.

Contact:

Ace Chapman, CEO, Ace@figiroyalty.com

SOURCE: Freedom Internet Group Inc.

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