#Uranium #Stocks
in the News: Fortune Bay (TSXV: $FOR.V) to Complete Non-Brokered Private
Placement; @fortunebaycorp
HALIFAX, NS - November 1, 2021 (Investorideas.com Newswire) Fortune Bay Corp. (TSXV:FOR, Frankfurt: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 $5,500,000 (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 $0.65 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 $0.85
per share for a period of two years. The flow through shares will be issued at
a price of $0.77 per share.
Read this news,
featuring FOR in full at https://www.investorideas.com/CO/FOR/news/2021/11011Non-Brokered-Private-Placement.asp
The Company intends to use
the proceeds of the Offering to fund exploration and project development at
Fortune Bay's Saskatchewan projects, and for general operating costs.
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.
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR,
Frankfurt: 5QN) is an exploration and development company with 100% ownership
in two advanced gold exploration projects in Canada, Saskatchewan (Goldfields
Project) and Mexico, Chiapas (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 Athabasca Basin. The
Company has a goal of building a mid-tier exploration and development Company
through the advancement of its existing projects and the strategic acquisition
of new projects to create a pipeline of growth opportunities. The Company's
corporate strategy is driven by a Board and Management team with a proven track
record of discovery, project development and value creation.
On behalf of Fortune Bay
Corp.
"Dale Verran"
Chief Executive Officer
902-334-1919
Cautionary Statement
Regarding Forward-Looking Information
Information set forth in
this news release contains forward-looking statements that are based on
assumptions as of the date of this news release. These statements reflect
management's current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Fortune Bay Corp. ("Fortune
Bay" or the "Company") cautions that all forward-looking
statements are inherently uncertain, and that actual performance may be
affected by a number of material factors, many of which are beyond Fortune
Bay's control. Such factors include, among other things: risks and
uncertainties relating to metal prices, changes in planned work resulting from
weather, logistical, technical or other factors, the possibility that results
of work will not fulfill expectations and realize the perceived potential of
Fortune Bay's mineral properties, uncertainties involved in the interpretation
of drilling results and other tests, the possibility that required permits may
not be obtained in a timely manner or at all, risk of accidents, equipment
breakdowns or other unanticipated difficulties or interruptions, the
possibility of cost overruns or unanticipated expenses in work programs, the
risk of environmental contamination or damage resulting from the exploration
operations, the need to comply with environmental and governmental regulations
and the lack of availability of necessary capital, which may not be available
to Fortune Bay, acceptable to it or at all. Fortune Bay is subject to the
specific risks inherent in the mining business as well as general economic and
business conditions. Accordingly, actual and future events, conditions and results
may differ materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as required
under applicable securities legislation, Fortune Bay undertakes no obligation
to publicly update or revise forward-looking information. Fortune Bay does not
intend, and does not assume any obligation, to update these forward-looking
statements, except as required under applicable securities legislation. For
more information on Fortune Bay, readers should refer to Fortune Bay's website
at www.fortunebaycorp.com.
Neither TSX Venture Exchange
nor its Regulation Services Provider (as that term is defined in policies of
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Fortune Bay Corp.
Figure 1: Goldfields West
Uranium Project location map.
Figure 2: Goldfields West
and Strike Uranium Projects infrastructure and geological setting.
Figure 3: Goldfields West
Uranium Project geology and uranium occurrences.
SOURCE Fortune Bay Corp.
Fortune Bay Corp.
(TSXV: FOR) is a featured Mining stock on Investorideas.com
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