Fortune Minerals Limited Announces an Increased Size of the Previously Announced Bought Deal Financing
15 February 2017
TORONTO, ONTARIO--(Marketwired - Feb. 15, 2017) -
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Fortune Minerals Limited (TSX:FT)(OTCQX:FTMDF) ("Fortune" or the "Company") is pleased to announce that it has agreed with Cormark Securities Inc. (the "Underwriter") to increase the size of the bought deal offering of units, announced on February 15, 2017, by 2,800,000 units ($700,000 ) to 22,800,000 units ("Units") of the Company at a price of $0.25 per Unit, for aggregate gross proceeds of $5.7 million. Each Unit will consist of one common share of Fortune (a "Common Share") and one-half of one common share purchase warrant (each full warrant, a "Warrant"), each full Warrant being exercisable to acquire one common share of Fortune at a purchase price of $0.35 for a period of 24 months following the closing date.