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Forte Minerals Corp . ( " Forte " or the " Company " ) ( CSE: CUAU ) ( OTCQB: FOMNF ) ( Frankfurt: 2OA ), intends to complete a non-brokered private placement (the "Offering") to raise up to C$2,400,000 for drilling and exploration programs on the Company's Peruvian projects and for general working capital, all as further outlined below.
The Offering involves the sale of up to 6,000,000 units (each a "Unit") at a price of $0.40 per Unit.
Unit Terms:
- Each Unit: one common share and one-half of one common share purchase warrant
- Warrant: each whole warrant exercisable for one common share at C$0.60 until the date that is 24 months from the closing of the Offering, provided the warrants are subject to accelerated exercise such that if the closing price of the Company's common shares exceeds C$0.90 per share for a period of 20 consecutive trading days, the Company may give notice of the acceleration of the warrants' term to a period of 30 days following such notice.
All securities issued will be subject to a statutory four-month-plus-one-day hold period in accordance with applicable Canadian securities laws. Additional restrictions may apply pursuant to the Securities Act of 1933, as amended, to U.S. investors, if any.
Use of Proceeds:
- Pucarini: Inaugural five-hole drill program for total of 1750m scheduled to start this July 2025.
- Esperanza : MT Survey
- Alto Ruri : DIA Drill Permitting and Community Agreements, surface exploration work including follow-up alteration and geological mapping, geochemical sampling, spectral analysis, IP and CSMAT.
- General working capital
Finder's fees may be paid to eligible persons in connection with the Offering, subject to the policies of the CSE.
The Company, at its discretion, reserves the right to increase the size of the Offering by up to $300,000.00 through the sale of 750,000 additional Units, for an aggregate Offering not exceeding $2,700,000.
" We appreciate our shareholders' continued confidence," stated Patrick Elliott, President and CE O. "This financing positions us to drill test a high sulphidation system that's never been drilled and to unlock the value of Alto Ruri, Esperanza and Miscanthus ."
The Offering is expected to close on or before June 15, 2025, subject to customary conditions, including the receipt of all required regulatory approvals .
ABOUT Forte Minerals CORP.
Forte Minerals Corp. is an exploration company with a strong portfolio of high-quality copper (" Cu ") and gold (" Au ") assets in Perú. Our strategic partnership with GlobeTrotters Resources Perú S.A.C. (" GTR ") grants us access to a comprehensive project pipeline, enabling us to target the most promising opportunities. This collaboration focuses on historically discovered, drill-ready targets, driving significant value in Cu and Au resource development.
On behalf of Forte Minerals CORP.
(signed) " Patrick Elliott"
Chief Executive Officer
For further information, please contact:
Forte Minerals Corp.
office: (604) 983-8847
info@forteminerals.co m
www.forteminerals.com
Certain statements included in this press release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements and information reflect management's current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under "Risk Factors and Uncertainties" in the Company's latest management's discussion and analysis, which is available under the Company's SEDAR+ profile at www.sedarplus.ca, and in other filings that the Company has made and may make with applicable securities authorities in the future.
Forward-looking statements are not a guarantee of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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