Business
Fidelity Minerals Announces Private Placement to Fund Growth Agenda of the Company
(via TheNewswire) Vancouver, BC / TheNewswire / June 12 th , 2019 ...
About this update from Fidelity Minerals Corp.
[{"type":"text","content":"Fidelity Minerals Announces Private Placement to Fund Growth Agenda of the Company(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / June 12th, 2019 - Fidelity Minerals Corp. (TSX-V: FMN | FSE: S5GM | SSE: MNYC) (\"Fidelity Minerals\" or the \"Company\") is pleased to announce that following the recent expansion of its Project portfolio the Company has arranged a Private Placement financing to fund its project expansion and appraisal focused work programmes. \n\n \n \nThe recent acquisition of our 100% interest in the Las Brujas and Cerro El Bronce Projects (announced June 11, 2019) further continues the transformation of Fidelity Minerals from a single asset company at the end of 2018, into a Company with a portfolio of four additional copper and gold projects. The two acquisitions outlined earlier this week, together with our flagship Greater Las Huaquillas Project (announced January 18, 2019) and our Porphyritic Copper project (announced April 29th, 2019), provide Fidelity Minerals with a strong platform for future growth\" said Ian Graham, CEO of the Company. \"Whilst we are still opportunistically reviewing further acquisition opportunities, we are slowly positioning the Company to transition from project acquisition mode to project evaluation mode. We look forward to a busy second-half of the year, when we expect to be able to provide more detailed updates about progress at each of our projects.\" \n\n\n \nIn order to fund ongoing growth plans including recent acquisitions, the Company is pleased to announce it has arranged a private placement financing (the \"Financing\") of up to 16,000,000 units at a price of $0.05 per unit for total gross proceeds of up to $800,000. Each unit consists of one common share and a half warrant, with each whole warrant exercisable into one additional common share at $0.06 per share for one (1) year after the closing date. \n\n\n \nThe Company intends to use the net proceeds of the Financing for expenditures related to the existing Project portfolio, including project expansion, potential project acquisitions, project concession fees, ongoing geological evaluation including collaboration with Global Ore Discovery (announced March 13th, 2019), establishment of data rooms, and for ongoing corporate working capital purposes.\n\n\n \nIn light of the recent project acquisitions, the Company w...