Forte Minerals Secures Up to C$2.4 Million for Expansion Efforts
Forte Minerals Moves Forward with Major Private Placement
VANCOUVER, British Columbia – Forte Minerals Corp (CNSX: CUAU, OTC Markets: FOMNF, Frankfurt: 2OA) is excited to announce an upcoming private placement that aims to raise as much as C$2,400,000. This funding will primarily support drilling and exploration activities across the Company's valuable projects in Peru.
Details of the Private Placement
The private placement, known as the Offering, entails selling up to 6,000,000 units, each priced at $0.40. Each unit consists of one common share and half of a common share purchase warrant. The whole warrant can be exercised for one common share at C$0.60, available for 24 months after the transaction closes. There’s an opportunity for accelerated exercise if shares exceed C$0.90 over 20 continuous trading days.
Use of Proceeds from the Offering
Forte plans to utilize these funds effectively across various initiatives:
- Pucarini: A groundbreaking five-hole drill program totaling 1,750 meters is planned for July.
- Esperanza: Conducting a Magnetotelluric (MT) Survey.
- Alto Ruri: Focused on drilling permits, obtaining community agreements, and conducting necessary surface exploration work, including geological mapping and geochemical sampling.
- Additionally, maintaining general working capital to support ongoing operations.
Finder's Fees and Potential for Increase
In connection with the Offering, finder’s fees may be paid to eligible participants in compliance with the CSE's policies. Notably, there’s an option to expand the Offering by an additional C$300,000 through selling 750,000 more units, which raises the maximum potential offering to C$2,700,000.
Leadership Insights
Patrick Elliott, President and CEO of Forte, expressed gratitude to shareholders, stating, "We appreciate our shareholders’ continued confidence. This financing prepares us to drill a high sulphidation system that’s never been tested, unlocking the value present in Alto Ruri, Esperanza, and Miscanthus."
About Forte Minerals Corp
Forte Minerals Corp. is a mining exploration enterprise committed to developing its impressive portfolio of copper and gold assets in Peru. Collaborating with GlobeTrotters Resources Perú S.A.C. (GTR), the Company has access to a rich pipeline of projects, enhancing its potential for resource development. Their focus remains on historically rich areas that exhibit promising mineral opportunities.
Contact Information
For further inquiries, interested parties can reach Forte Minerals Corp. at:
Telephone: (604) 983-8847
Email: info@forteminerals.com
Website: www.forteminerals.com
Frequently Asked Questions
What is the purpose of the private placement by Forte Minerals?
The funds raised will primarily support drilling and exploration activities in its Peruvian assets.
How much money does Forte Minerals aim to raise?
Forte Minerals is looking to raise up to C$2,400,000, with the possibility to increase this amount.
When is the Offering expected to close?
The Offering is anticipated to conclude by June 15, subject to required regulatory approvals.
What are the key projects involved in the fund utilization?
Key projects include Pucarini, Esperanza, and Alto Ruri, focusing on various exploration activities.
Who can benefit from finder’s fees associated with the Offering?
Finder’s fees may be given to eligible persons participating in the Offering, following CSE guidelines.
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