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Fortune Minerals Announces $5M Private Placement
Fortune Minerals Announces $5M Private Placement Canada NewsWire LONDON, ON, Nov...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\n\nFortune Minerals Announces $5M Private Placement\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, Nov. 29, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n\nIssued Capital: 302,085,257\n\n\n\nLONDON, ON, Nov. 29, 2017 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) (\"Fortune\" or the \"Company\") (www.fortuneminerals.com) is pleased to announce that it is proposing to complete a $5,000,000 non-brokered private placement of units of securities of the Company (\"Units\"). Up to 29,411,766 Units will be issued at a subscription price of $0.17 per Unit. Each Unit will consist of one common share of the Company and one-half warrant with each whole warrant entitling the holder to purchase one common share of the Company at a price of $0.25 for a period of two years. The Company further announces today that it received conditional approval for the private placement from the Toronto Stock Exchange. \n\nProceeds of this financing will be used for general working capital purposes. The Company may pay a cash finder's fee of up to 5% of the gross proceeds of the private placement.\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 mining company focused on developing the vertically integrated NICO cobalt-gold-bismuth-copper project in the Northwest Territories and a related refinery the Company plans to construct in Saskatchewan. Fortune also owns the Sue-Dianne copper-silver-gold deposit located 25 km north of NICO and a potential future source of incremental mill feed to potentially extend the...