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Fortune Bay to Complete Non-Brokered Private Placement
Fortune Bay to Complete Non-Brokered Private Placement Canada NewsWire ...
About this update from Fortune Bay Corp.
[{"type":"text","content":"\n \n \n \n Fortune Bay to Complete Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n HALIFAX, NS\n \n ,\n \n Nov. 1, 2021\n \n /CNW Telbec/ - Fortune Bay Corp. (TSXV: FOR) (\n \n Frankfurt\n \n : 5QN) (\"Fortune Bay\" or the \"Company\") is pleased to announce that it intends to complete a non-brokered private placement for aggregate gross proceeds of up to\n \n $5,500,000\n \n (the \"Offering\"). The Company intends to issue up to 3,076,923 units and up to 4,545,454 flow through shares.  Each unit will be issued at a price of\n \n $0.65\n \n per unit, with each unit comprised of one common share and one-half common share purchase warrant.  Each whole warrant will be exercisable into one common share of the Company at an exercise price of\n \n $0.85\n \n per share for a period of two years.  The flow through shares will be issued at a price of\n \n $0.77\n \n per share.\n \n \n The Company intends to use the proceeds of the Offering to fund exploration and project development at Fortune Bay's\n \n Saskatchewan\n \n projects, and for general operating costs.\n \n \n Closing of the Offering is subject to the approval of the TSX Venture Exchange.  All securities issued pursuant to the Offering will be subject to a statutory four-month hold period in accordance with Canadian securities legislation.\n \n \n \n \n About Fortune Bay\n \n \n \n \n Fortune Bay Corp. (TSXV:FOR,\n \n Frankfurt\n \n : 5QN) is an exploration and development company with 100% ownership in two advanced gold exploration projects in\n \n Canada\n \n ,\n \n Saskatchewan\n \n (Goldfields Project) and\n \n Mexico\n \n ,\n \n Chiapas\n \n (Ixhuatán Project), both with exploration and development potential. The Company is also advancing the 100% owned Strike and Goldfields West uranium exploration projects, located near the Goldfields Project, which have high-grade potential typical of the\n \n Athabasca\n \n Basin. The Company has a goal of building a mid-tier exploration and development Company through the ad...