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Fortune Minerals announces c$5 million bought deal financing

2017-02-16 18:10:29  【Print】
BEIJING (Asian Metal) 16 Feb 17 - On February 15, 2017, Fortune Minerals Limited ("Fortune" or the "Company") announced that it has inked an agreement with Cormark Securities Inc.Asian Metal Copyright The net proceeds from the offering will be used to fund an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper project and for general corporate purposes.Asian Metal Copyright (the "Underwriters"), which has agreed to purchase, on a bought deal basis, 20 million units of Fortune (the "Units") at a purchase price of $0.Asian Metal Copyright The net proceeds from the offering will be used to fund an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper project and for general corporate purposes.Asian Metal Copyright25 per Unit (the "Offering Price"), for aggregate gross proceeds in the amount of approximately $5 million (the "Offering").Asian Metal Copyright the "Underwriters", which has agreed to purchase, on a bought deal basis, 20 million units of Fortune the "Units" at a purchase price of $0.Asian Metal Copyright Each Unit will consist of one common share of Fortune (a "Unit Share") and one half of one common share purchase warrant (each whole purchase warrant a "Warrant"), each Warrant being exercisable to acquire one common share of Fortune at a purchase price of $0.Asian Metal Copyright Closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.Asian Metal Copyright35 for a period of 24 months following the closing date.

In addition, Fortune has granted the Underwriters an option to purchase additional Units at the Offering Price to raise additional gross proceeds of up to 15% of the Offering, for a period of 30 days after and including the Closing Date to cover over-allotments, if any, and for market stabilization purposes.

The offering is scheduled to close on or about March 8, 2017.Asian Metal Copyright the "Underwriters", which has agreed to purchase, on a bought deal basis, 20 million units of Fortune the "Units" at a purchase price of $0.Asian Metal Copyright Closing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals.

The net proceeds from the offering will be used to fund an updated feasibility study for the NICO Cobalt-Gold-Bismuth-Copper project and for general corporate purposes.

.Asian Metal Copyright35 for a period of 24 months following the closing date.Asian Metal Copyright

Copper Conc.

20%min China

Unit:RMB/mt
China's active low-oxygen copper rod producers' number MoM inventory increase for refined copper statistics by province by month
Unit: pcs
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