Business
Fortune Minerals Limited completes $5 million financing
/NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ Issued ...
About this update from Fortune Minerals Limited
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN\nTHE UNITED STATES/\n\nIssued Capital: 55,550,107\n\n\nLONDON, ON, Oct. 16 /CNW/ - Fortune Minerals Limited (TSX-FT) ("Fortune"\nor the "Company") is pleased to announce that it has completed the private\nplacement of flow-through shares previously announced in the Company's news\nreleases of October 1 and 2, 2008.\n\n\nThe Company raised gross proceeds of $5,002,500 through the issuance of\n4,350,000 flow-through shares at a price of $1.15 per share through a\nsyndicate of dealers led by CIBC World Markets Inc. and including Jones, Gable\n& Company Limited (the "Agents").\n\n\nThe proceeds raised from the financing will be used primarily for\nexploration and development of the Company's NICO gold-cobalt-bismuth-copper\nproject in the Northwest Territories and its Mount Klappan anthracite coal\nproject in northwest British Columbia.\n\n\nThe Agents received an aggregate cash commission of 6% of the gross\nproceeds of the financing.\n\n\nThe securities being offered have not, nor will they be registered under\nthe United States Securities Act of 1933, as amended, and may not be offered\nor sold within the United States or to, or for the account or benefit of, U.S.\npersons. This release does not constitute an offer for sale of securities in\nthe United States.\n\n\n","length":1476,"tagName":"div"}]