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Fortune Minerals Announces Closing of Bought Deal Financing
Fortune Minerals Announces Closing of Bought Deal Financing Canada NewsWire LOND...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\n\nFortune Minerals Announces Closing of Bought Deal Financing\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLONDON, ON, March 8, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\n\n\nLONDON, ON, March 8, 2017 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to announce that it has closed its previously announced short form prospectus offering (the \"Offering\") of units (the \"Units\") of the Corporation with Cormark Securities Inc. (the \"Underwriter\"), acting as underwriter, on a bought deal basis. The Company has issued 25,800,000 Units at a price of $0.25 per Unit for total gross proceeds of $6,450,000 (including 3,000,000 Units issued as a result of the Underwriter exercising its over-allotment option in full). \n\nEach Unit consists of one common share in the capital of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant'). Each Warrant entitles the holder thereof to purchase one Common Share at a price of $0.35 at any time prior to 5:00 p.m. (Toronto time) on the date that is 2 years following the closing date of the Offering.\n\nThe net proceeds of the Offering are expected to be used to, among other things, update the feasibility study capital and operating costs for the NICO Cobalt-Gold-Bismuth-Copper project and for general corporate matters. \n\nThis press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.\n\nAbout Fortune Minerals\n\nFortune is a Canadian development stage mining company focused on a...