Fortune Minerals receives additional financing from Lascaux to fund Revenue Silver Mine working capital

27 March 2015

LONDON, ON, March 27, 2015 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to announce that it has closed an additional US$ 4 million financing from Lascaux Resource Capital Fund LP ("Lascaux") to provide working capital for the Revenue Silver Mine ("RSM") in southwest Colorado, U.S.A. Lascaux  provided US$ 35 million to Fortune in October 2014 to finance the acquisition of the RSM under a metal prepay facility (see Fortune news releases, dated October 1, and 16, 2014). Additional working capital totaling US$ 12 million was provided by Lascaux in December 2014 and February 2015 that was also structured as a metal prepay facility (see Fortune news releases, dated December 22, 2014 and February 12, 2015). The Company's metal delivery obligations under the original prepay facility and additional working capital facilities have been restructured but the applicable interest rates remain the same under an amended agreement with Lascaux.