22 December 2014
LONDON, ON, Dec. 22, 2014 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) announces that it has closed an additional US$ 7 million financing from Lascaux Resource Capital Fund LP ("Lascaux") to provide working capital for the commissioning of the Revenue Silver Mine ("RSM") in southwest Colorado, U.S.A. Lascaux has already provided US$ 35 million to Fortune to finance the acquisition of the RSM under a metal prepay facility that will be repaid with a fixed schedule of metal shipments from the mine plus cash interest over a five-year period (see Fortune news releases, dated October 1, and 16, 2014). Fortune owns a 100% interest in the RSM through its wholly-owned subsidiary, Fortune Revenue Silver Mines, Inc. ("FRSMI"). The RSM is an operating silver mine with a 400 ton per day mill and concentrator that is ramping up to the planned production rate.