SEC Filing Document

Company: Freedom Metals Acquisition Corp.
Ticker: 
CIK: 2129659
Filing Type: S-1
Document Type: EX-3.1
Date Filed: 2026-05-15
Accession Number: 0001213900-26-057976
Exchange: 
SIC Code: 
SIC Description: 
URL: https://www.sec.gov/Archives/edgar/data/2129659/000121390026057976/ea028864801ex3-1.htm

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circumstances Person shall mean any person or entity permitted to act as such in accordance with the laws of the Cayman Islands. “Preference Shares” means the Preference Shares in the capital of the Company of $0.0001 nominal or par value designated as Preference Shares, and having the rights provided for in these Articles. “Principal Register”, where the Company has established one or more Branch Registers pursuant to the Companies Act and these Articles, means the Register maintained by the Company pursuant to the Companies Act and these Articles that is not designated by the Directors as a Branch Register. “Register” means the register of Members of the Company required to be kept pursuant to the Companies Act and includes any Branch Register(s) established by the Company in accordance with the Companies Act. Auth Code: G71083204691 www.verify.gov.ky “Seal” means the common seal of the Company (if adopted) including any facsimile thereof.

“Secretary”
means any Person appointed by the Directors to perform any of the duties of the secretary of the Company.

“Series”
means a series of a Class as may from time to time be issued by the Company.

“Share”
means a share in the capital of the Company. All references to “Shares” herein shall be deemed to be Shares of any or all Classes
as the context may require. For the avoidance of doubt in these Articles the expression “Share” shall include a fraction of
a Share.

“Shareholder”
or “Member” means a Person who is registered as the holder
of Shares in the Register and includes each subscriber to the Memorandum of Association pending entry in the Register of such subscriber.

“Share
Premium Account” means the share premium account established in accordance with these Articles and the Companies Act.

“signed”
means bearing a signature or representation of a signature affixed by mechanical means.

“Special
Resolution” means a special resolution of the Company passed in accordance with the Companies Act, being a resolution:

(a)	passed by a majority of not less than two-thirds of such Shareholders as, being
entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of the Company of which notice specifying
the intention to propose the resolution as a special resolution has been duly given and where a poll is taken regard shall be had in computing
a majority to the number of votes to which each Shareholder is entitled; or

(b)	approved in writing by all of the Shareholders entitled to vote at a general meeting
of the Company in one or more instruments each signed by one or more of the Shareholders and the effective date of the special resolution
so adopted shall be the date on which the instrument or the last of such instruments, if more than one, is executed.

“Sponsor”
means NLC SPAC Sponsor 1 LLC.

“Treasury
Shares” means Shares that were previously issued but were purchased, redeemed, surrendered or otherwise acquired by the
Company and not cancelled.

“Trust
Fund” means the trust account established by the Company upon the consummation of its IPO and into which a certain amount
of the net proceeds of the IPO, together with certain of the proceeds of any private placement of units issued simultaneously with the
closing date of the IPO, will be deposited.

Auth Code: G71083204691
www.verify.gov.ky

2.	In these Articles, save where the context requires otherwise:

(a)	words importing the singular number shall include the plural number and vice versa;

(b)	words importing the masculine gender only shall include the feminine gender and
any Person as the context may require;

(c)	the word “may” shall be construed as permissive and the word “shall”
shall be construed as imperative;

(d)	reference to a dollar or dollars or USD (or $) and to a cent or cents is reference
to dollars and cents of the United States of America;

(e)	reference to a statutory enactment shall include reference to any amendment or
re-enactment thereof for the time being in force;

(f)	reference to any determination by the Directors shall be construed as a determination
by the Directors in their sole and absolute discretion and shall be applicable either generally or in any particular case; and

(g)	reference to “in writing” shall be construed as written or represented
by any means reproducible in writing, including any form of print, lithograph, email, facsimile, photograph or telex or represented by
any other substitute or format for storage or transmission for writing or partly one and partly another.

3.	Subject to the preceding Articles, any words defined in the Companies Act shall,
if not inconsistent with the subject or context, bear the same meaning in these Articles.

PRELIMINARY

4.	The business of the Company may be commenced at any time after incorporation.

5.	The Office shall be at such address in the Cayman Islands as the Directors may
from time to time determine. The Company may in addition establish and maintain such other offices and places of business and agencies
in such places as the Directors may from time to time determine.

6.	The expenses incurred in the formation of the Company and in connection with the
offer for subscription and issue of Shares shall be paid by the Company. Such expenses may be amortised over such period as the Directors
may determine and the amount so paid shall be charged against income and/or capital in the accounts of the Company as the Directors shall
determine.

7.	The Directors shall keep, or cause to be kept, the Register at such place or (subject
to compliance with the Companies Act and these Articles) places as the Directors may from time to time determine. In the absence of any
such determination, the Register shall be kept at the Office. The Directors may keep, or cause to be kept, one or more Branch Registers
as well as the Principal Register in accordance with the Companies Act, provided
always that a duplicate of such Branch Register(s) shall be maintained with the Principal Register in accordance with the Companies Act.

Auth Code: G71083204691
www.verify.gov.ky

SHARES

8.	Subject to these Articles, all Shares for the time being unissued shall be under
the control of the Directors who may:

(a)	issue, allot and dispose of the same to such Persons, in such manner, on such terms
and having such rights and being subject to such restrictions as they may from time to time determine; and

(b)	grant options with respect to such Shares and issue warrants or similar instruments
with respect thereto;

and, for such purposes, the Directors may reserve an
appropriate number of Shares for the time being unissued.

9.	The Directors, or the Shareholders by Ordinary Resolution, may authorise the division
of Shares into any number of Classes and sub-classes and Series and sub-series and the different Classes and sub-classes and Series and
sub-series shall be authorised, established and designated (or re-designated as the case may be) and the variations in the relative rights
(including, without limitation, voting, dividend and redemption rights), restrictions, preferences, privileges and payment obligations
as between the different Classes and Series (if any) may be fixed and determined by the Directors or the Shareholders by Ordinary Resolution.

10.	The Company may insofar as may be permitted by law, pay a commission to any Person
in consideration of their subscribing or agreeing to subscribe whether absolutely or conditionally for any Shares. Such commissions may
be satisfied by the payment of cash or the lodgement of fully or partly paid-up Shares or partly in one way and partly in the other. The
Company may also pay such brokerage as may be lawful on any issue of Shares.

11.	The Directors may refuse to accept any application for Shares, and may accept
any application in whole or in part, for any reason or for no reason.

FOUNDER SHARES CONVERSION AND
ANTI-DILUTION RIGHTS

12.	At the time of the consummation of the Company’s initial Business Combination,
the issued and outstanding Class B Shares shall automatically be converted into such number of Class A Shares as is equal to, on an as-converted
basis, 20% of the sum of:

(a)	the total number of Class A Shares and Class B Shares in
issue at the time of the IPO (including pursuant to an over-allotment option granted to an underwriter of the IPO), plus

(b)	the total number of Class A Shares issued or deemed issued, or issuable upon the
conversion or exercise of any equity-linked securities issued or deemed issued, by the Company in connection with or in relation to the
consummation of the initial Business Combination, excluding (x) any Class A Shares or equity-linked securities exercisable for or convertible
into Class A Shares issued, or to be issued, to any seller in the initial Business Combination and (y) any private placement warrants
issued to the Sponsor.

Auth Code: G71083204691
www.verify.gov.ky