8 July 2014
07/08/2014
Strategic investor maintains 19.43% interest in the Company after shareholder ratification
Issued Capital: 190,244,847
LONDON, ON, July 8, 2014 /CNW/ - Fortune Minerals Limited (TSX: FT) (OTCQX: FTMDF) ("Fortune" or the "Company") (www.fortuneminerals.com) is pleased to announce that it has closed the second tranche of a private placement with Procon Resources Inc. ("Procon"). Procon purchased an additional 2,086,127 shares of Fortune at a price of CAD$ 0.40 per share for proceeds of CAD$ 834,450.80 following the approval of disinterested shareholders at the Annual and Special Meeting of Shareholders held on June 24, 2014. Proceeds from this private placement will be used for working capital purposes.07/08/2014
Strategic investor maintains 19.43% interest in the Company after shareholder ratification