on Forte Minerals Corp (isin : CA34962J1030)

Forte Minerals Corp. Closes Oversubscribed Private Placement Offering

Vancouver, BC / ACCESSWIRE / June 27, 2024 - Forte Minerals Corp. ("Forte" or the "Company") has announced the closing of its non-brokered private placement offering. Initially set for 7,500,000 units, the offering was oversubscribed, leading to the issuance of 8,953,000 units at a price of CAD $0.20 per unit, totaling CAD $1,790,600.

Each unit comprises one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to purchase an additional common share at CAD $0.30 until June 26, 2026. The securities are subject to a hold period until October 27, 2024.

The net proceeds will fund Forte's exploration programs, including the Pucarini Gold Project and surface exploration at Esperanza and Alto Ruri, alongside social engagement and drill permitting efforts. Certain company directors acquired units, constituting a "related party transaction" but exempt from formal valuation and minority shareholder approval under specific sections of MI 61-101.

The Company paid cash finder's fees totaling CAD $86,736 and issued 433,680 finder's warrants to investment advisors on the same terms as the Warrants.

R. E.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Click here to consult the press release on which this article is based

See all Forte Minerals Corp news