Cobalt

Fortune Minerals Announces Settlement of 2015 Debentures

Fortune Minerals Announces Settlement of 2015 Debentures

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has reached agreements (the " Settlement Agreements ") with the holders of its debentures issued in 2015 and amended in 2022 (the " 2015 Debentures "). With the Settlement Agreements in place, Fortune can now focus on advancing the NICO cobalt-gold-bismuth-copper critical minerals development project (" NICO Project ") in the Northwest Territories (" NWT ") and Alberta.

Pursuant to the terms of the Settlement Agreements:

  • One of the holders of the 2015 Debentures has agreed to retire its debt totalling C$7,280,173 including principal and interest as at November 30, 2022
  • Fortune will pay an aggregate of C$1,250,000.00 in cash at closing (the " Cash Payment ")
  • Fortune will also issue an aggregate of 73,500,000 common shares of the Company (" Shares ") to settle the balance of C$6,030,173 due to this holder at a deemed price of approximately C$0.082 per Share, representing approximately a 17% premium to the closing price of the Shares on the TSX on November 30, 2022 (the " Share Payment ")
  • The term for C$5,461,376 of the 2015 Debentures held by a different Party and representing the principal and accrued interest to date, will be extended to December 31, 2023
  • The settlement is expected to close on or about December 2, 2022, and remains subject to approval of the Toronto Stock Exchange (" TSX ")

Fortune further announces that it has reached an agreement with an arm's length investor to increase its existing C$1,500,000 secured loan agreement (the " 2021 Term Loan ") by an additional principal amount of C$1,250,000 (the " New Debt Facility "), with the proceeds of the New Debt Facility being used by the Company to make the Cash Payment, and to extend the maturity date of the 2021 Term Loan to December 31, 2023. The New Debt Facility will bear interest at 9% per annum, compounding annually, with both principal and interest payable at maturity on December 31, 2023.

The issuance of the Shares underlying the Share Payment remains subject to final TSX approval and the Shares will be subject to a four-month hold period from the date of issuance.

This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities will not be and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

Advisors and Counsel

Haywood Securities Inc. is acting as financial advisor and WeirFoulds LLP is acting as legal counsel to Fortune.

About Fortune Minerals:

Fortune is a Canadian mining company focused on developing the NICO cobalt-gold-bismuth-copper Critical Minerals project in the NWT and Alberta. The NICO Project is one of the few advanced cobalt development projects globally to address the growing demand for cobalt in lithium-ion rechargeable batteries used to power electric vehicles, portable electronic devices, and stationary storage cells. As a Canadian, vertically integrated planned battery materials development, cobalt produced from the NICO Project would help qualify purchasers of electric vehicles to receive the tax credits under the new U.S. Inflation Reduction Act. Fortune also owns the satellite Sue-Dianne copper-silver-gold deposit located 25 km north of the NICO Deposit and is a potential future source of incremental mill feed to extend the life of the NICO mill and concentrator.

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This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities legislation. This forward-looking information includes statements with respect to, among other things, the completion of the transactions contemplated by the Settlement Agreement and the receipt of regulatory approval for the issuance of the Shares in partial settlement of the 2015 Debentures, the Company's ability to raise additional capital, the purchase of the industrial site on which the Company presently intends to construct the hydrometallurgical refinery for the NICO Project, the repayment or restructuring of the Company's current debt, the development of the NICO Project, the potential for expansion of the NICO Deposit and statements regarding drill results and future drilling and assays. Forward-looking information is based on the opinions and estimates of management as well as certain assumptions at the date the information is given (including, in respect of the forward-looking information contained in this press release, assumptions regarding: the Company's ability to successfully raise the necessary capital to meet its corporate objectives in both the near and long term; the successful exercise by the Company its option to purchase the industrial site on which it intends to construct a NICO Project refinery; the completion of construction of a NICO Project refinery; the ability to arrange the necessary financing to continue operations and develop the NICO Project; the support of the federal and/or provincial government for the NICO Project; the receipt of all necessary regulatory approvals for the construction and operation of the NICO Project and the related hydrometallurgical refinery and the timing thereof; growth in the demand for cobalt; the time required to construct the NICO Project; and the economic environment in which the Company will operate in the future, including the price of gold, cobalt and other by-product metals, anticipated costs and the volumes of metals to be produced at the NICO Project). However, such forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. These factors include the risks that the Company may not be able to finance and develop the NICO Project on favourable terms or at all, the 2021 drill program may not result in a meaningful expansion of the NICO Deposit, the effects of a global market downturn, pressure on commodities prices, and/or the COVID-19 on the Company's capital raising efforts, the Company may not be able to complete the purchase of the industrial site located in Alberta's Industrial Heartland northeast of Edmonton and secure a site for the construction of a refinery, uncertainties with respect to the receipt or timing of required permits, approvals and agreements for the development of the NICO Project, including the related hydrometallurgical refinery, the construction of the NICO Project may take longer than anticipated, the Company may not be able to secure offtake agreements for the metals to be produced at the NICO Project, the Company's Sue-Dianne Property may not be developed to the point where it can provide mill feed to the NICO Project, the inherent risks involved in the exploration and development of mineral properties and in the mining industry in general, the market for products that use cobalt or bismuth may not grow to the extent anticipated, the future supply of cobalt and bismuth may not be as limited as anticipated, the risk of decreases in the market prices of cobalt, bismuth and other metals to be produced by the NICO Project, discrepancies between actual and estimated Mineral Resources or between actual and estimated metallurgical recoveries, uncertainties associated with estimating Mineral Resources and Reserves and the risk that even if such Mineral Resources prove accurate the risk that such Mineral Resources may not be converted into Mineral Reserves once economic conditions are applied, the Company's production of cobalt, bismuth and other metals may be less than anticipated and other operational and development risks, market risks and regulatory risks. Readers are cautioned to not place undue reliance on forward-looking information because it is possible that predictions, forecasts, projections and other forms of forward-looking information will not be achieved by the Company. The forward-looking information contained herein is made as of the date hereof and the Company assumes no responsibility to update or revise it to reflect new events or circumstances, except as required by law.

For further information:
Fortune Minerals Limited
Troy Nazarewicz
Investor Relations Manager
info@fortuneminerals.com
Tel: (519) 858-8188
www.fortuneminerals.com

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 Fortune Minerals Announces Completion of 2015 Debentures Settlement

 Fortune Minerals Announces Completion of 2015 Debentures Settlement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that, further to the Company's news release dated December 1, 2022, it has completed the settlement (the " Settlement ") of its debentures issued in 2015 and amended in 2022 (the " 2015 Debentures "). With the Settlement complete, Fortune can now focus on advancing the NICO cobalt-gold-bismuth-copper critical minerals development project (" NICO Project ") in the Northwest Territories (" NWT ") and Alberta.

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Fortune Minerals Extends Option to Acquire the Alberta Refinery Site for the NICO Critical Minerals Project

Fortune Minerals Extends Option to Acquire the Alberta Refinery Site for the NICO Critical Minerals Project

Company is working with Haywood Securities to secure funding to advance the NICO Project

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that, due to the current economic and capital market volatility, it has secured an additional extension to the option to purchase the JFSL Field Services ULC (" JFSL ") brownfield site in Lamont County, Alberta (see news releases, dated January 24, 2022 and July 14, 2022). Fortune plans to construct a hydrometallurgical refinery at this site for its vertically integrated NICO cobalt-gold-bismuth-copper critical minerals project (" NICO Project "). The JFSL facility is a former steel fabrication plant located on 76.78 acres of lands in Alberta's Industrial Heartland northeast of Edmonton and has 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. The JFSL site is also close to services, sources of reagents, and a commutable pool of engineers and skilled chemical plant workers to materially reduce capital and operating costs for the planned NICO Project development.

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Fortune Minerals Announces Completion of 2015 Debentures Extension

Fortune Minerals Announces Completion of 2015 Debentures Extension

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that, further to the company's news release dated August 16, 2022, it has executed definitive documentation with the holders of its debentures issued in 2015 (the " 2015 Debentures ") to extend their maturity date from August 12, 2022 to November 30, 2022.

The amended and restated debentures (the " Amended Debentures ") have an aggregate principal amount of $12,363,518, being the total principal amount and all accrued interest on the 2015 Debentures as at August 12, 2022, bear interest at a rate of 10% per annum for the extension period and are secured by all of the assets of the Company (including the NICO cobalt-gold-bismuth-copper project (" NICO Project ")). As additional consideration for the extension of the maturity date, the Company has issued to the holders of the Amended Debentures an aggregate of 3,500,000 common shares of the Company. The shares are subject to a hold period of four months and one day from the date of issuance.

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Fortune Minerals Negotiates Agreement in Principle to Extend the Term of Its 2015 Debentures

Fortune Minerals Negotiates Agreement in Principle to Extend the Term of Its 2015 Debentures

New United States Inflation Reduction Act includes measures to positively impact North American critical minerals supply chains

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has reached an agreement in principle with the holders of its debentures issued in 2015 (the " 2015 Debentures ") to extend their maturity from August 12, 2022 to November 30, 2022. The extension of the maturity date of the 2015 Debentures remains subject to finalizing and executing definitive documentation between the Company and the holders of the 2015 Debentures (the " Extension Documents ").

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Fortune Minerals Extends Purchase Option for NICO Refinery Site in Alberta Until the End of September

Fortune Minerals Extends Purchase Option for NICO Refinery Site in Alberta Until the End of September

Due-diligence for the brownfield facility in Alberta's Industrial Heartland essentially complete

Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (" Fortune " or the " Company ") ( www.fortuneminerals.com ) is pleased to announce that it has secured a two-month extension to the option period to purchase the JFSL Field Services ULC (" JFSL ") brownfield site in Lamont County, Alberta where it plans to construct the NICO hydrometallurgical refinery. Fortune can acquire the JFSL site and facilities for C$5.5 million before the end of September 2022 by paying C$15,000 per month to extend the option. The JFSL site is comprised of 76.78 acres of lands in Alberta's Industrial Heartland northeast of Edmonton, a consortium of five municipalities with the planning approvals already in place to attract heavy industry. The JFSL facility is a former steel fabrication plant with 42,000 square feet of serviced shops and buildings adjacent to the Canadian National Railway. It is also situated close to sources of reagents and a commutable pool of engineers and skilled chemical plant workers to materially reduce capital and operating costs for the planned NICO development.

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Argentina Lithium to Present at the Emerging Growth Conference and Invites Individual and Institutional Investors as well as Advisors and Analysts, to Attend Its Real-Time, Interactive Presentation

Argentina Lithium to Present at the Emerging Growth Conference and Invites Individual and Institutional Investors as well as Advisors and Analysts, to Attend Its Real-Time, Interactive Presentation

Argentina Lithium & Energy Corp. (TSXV: LIT) (FSE: OAY3) (OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased to announce that it has been invited to present at the Emerging Growth Conference on February 8, 2023 .

Argentina Lithium & Energy Logo (CNW Group/Argentina Lithium & Energy Corp.)

The next Emerging Growth Conference is presenting on February 8, 2023 . This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company's VP Exploration, Miles Rideout , in real time.

Mr. Rideout will perform a presentation and may subsequently open the floor for questions. Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event and Mr. Rideout will do his best to get through as many of them as possible.

Argentina Lithium & Energy Corp. will be presenting at 3:10 PM Eastern time .

Please register here to ensure you are able to attend the conference and receive any updates that are released.

https://goto.webcasts.com/starthere.jsp?ei=1589451&tp_key=60f8292c14&sti=pnxlf

If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference . We will release a link to that after the event.

About the Emerging Growth Conference

The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.

The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.

All sessions will be conducted through video webcasts and will take place in the Eastern time zone.

About Argentina Lithium

Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first-rate team of experts to acquire and advance the best lithium properties in the "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.

ON BEHALF OF THE BOARD

"Nikolaos Cacos"

____________________________
Nikolaos Cacos , President, CEO and Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements.  Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. All statements, other than statements of historical fact, that address activities, events or developments the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements about the Company's plans for its mineral properties; the Company's business strategy, plans and outlooks; the future financial or operating performance of the Company; and future exploration and operating plans are forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: the impact of COVID-19; risks and uncertainties related to the ability to obtain, amend, or maintain licenses, permits, or surface rights; risks associated with technical difficulties in connection with mining activities; and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, unless required pursuant to applicable laws. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/argentina-lithium-to-present-at-the-emerging-growth-conference-and-invites-individual-and-institutional-investors-as-well-as-advisors-and-analysts-to-attend-its-real-time-interactive-presentation-301741225.html

SOURCE Argentina Lithium & Energy Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2023/07/c3557.html

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Canada Silver Cobalt Releases Cobalt - Nickel Assays of 11 and 4 Percent Respectively from Concentrate of Castle Mine Waste Rock

Canada Silver Cobalt Releases Cobalt - Nickel Assays of 11 and 4 Percent Respectively from Concentrate of Castle Mine Waste Rock

(TheNewswire)

Canada Silver Cobalt Works Inc.

Canada Silver Cobalt Works Inc. (TSXV:CCW) (OTC:CCWOF) (Frankfurt: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that it has completed re-processing waste rock material from Castle Mine for battery minerals, in Gowganda, Ontario

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Canada Silver Cobalt Releases Cobalt - Nickel Assays of 11 and 4 Percent Respectively from Concentrate of Castle Mine Waste Rock

Canada Silver Cobalt Releases Cobalt - Nickel Assays of 11 and 4 Percent Respectively from Concentrate of Castle Mine Waste Rock

Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTCQB: CCWOF) (FSE: 4T9B) (the "Company" or "Canada Silver Cobalt") is pleased to announce that it has completed re-processing waste rock material from Castle Mine for battery minerals, in Gowganda, Ontario.

"Re-processing the mine waste rock to limit the amount of soluble metals entering the water and into the surrounding water shed, thereby contributing to the global green incentives," commented Frank J. Basa, B.Eng., CEO, "reinforcing our ESG commitments."

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Nevada Sunrise Intersects 929.8 ppm Lithium over 1,130 feet at the Gemini Lithium Project, Nevada

Nevada Sunrise Intersects 929.8 ppm Lithium over 1,130 feet at the Gemini Lithium Project, Nevada

Nevada Sunrise Metals Corp. ("Nevada Sunrise", or the "Company") (TSXV: NEV) is pleased to announce that the Company has received final geochemical analyses for lithium mineralization in sediments and groundwater collected from borehole GEM22-03, drilled at its 100%-owned Gemini Lithium Project ("Gemini") located in the Lida Valley basin in Esmeralda County, Nevada . Drilling of borehole GEM22-03 began on October 18, 2022 and was completed to a depth of 1,620 feet (493.90 metres) on December 16, 2022 .

Highlights of GEM22-03
  • Borehole GEM22-03 intersected 929.80 parts per million ("ppm") lithium-in-sediment over 1,130 feet from 280 feet (85.37 metres) to 1,410 feet (344.51 metres), including 1,342.20 ppm lithium over 350 feet (106.71 metres) and 1,955 ppm lithium over 30 feet (9.15 metres) (see Table 1 below for greater detail on mineralized intervals);
  • GEM22-03 was completed at a location approximately 0.47 miles (0.76 kilometres) north of GEM22-01 and 1.14 miles (1.83 kilometres) north of GEM22-02, thereby successfully extending the lithium mineralized zone to the north.
  • Groundwater sample analyses showed anomalous concentrations of lithium in groundwater flows intersected within the hole, including two significant intervals of 120 milligrams/litre lithium ("mg/L") in a water flow of 14.22 gallons per minute ("gpm") from 1,100 to 1,120 feet (335.37 to 341.46 metres), and 110 mg/L lithium in a water flow of 16.4 gpm from 1,200 to 1,220 feet (365.85 to 371.95 metres).

Table 1.  Final Lithium-in-Sediment analytical results from borehole GEM22-03

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ALX Resources Corp. Provides Quebec Lithium Projects Exploration Update and Reports Acquisition by Staking of Python Lithium Showing

ALX Resources Corp. Provides Quebec Lithium Projects Exploration Update and Reports Acquisition by Staking of Python Lithium Showing

ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") is pleased to provide an update on its recent lithium exploration activities in the James Bay Region of the Province of Quebec, Canada.

On January 31, 2023, the Company received a report from its geological contractor, Dahrouge Geological Consulting of Montreal, QC, on the results of a reconnaissance prospecting program completed in October 2022 at the Hydra Lithium Project ("Hydra", or the "Project"). Also in late January 2023, ALX staked a new sub-project known as the Python Project ("Python"). Python covers a historically sampled, lithium-bearing pegmatite showing located within a prospective geological trend of mafic gneiss, interpreted to be volcanic rocks within an unnamed greenstone belt.

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Infinity Stone Options 38,441ha Sugar Loaf and Little Dipper Lithium Projects Near Sigma Lithium in Minas Gerais Province, Brazil

Infinity Stone Options 38,441ha Sugar Loaf and Little Dipper Lithium Projects Near Sigma Lithium in Minas Gerais Province, Brazil

Highlights

  • Infinity Stone has optioned the Sugar Loaf and Little Dipper lithium projects, collectively covering 38,441 hectares.
  • The Sugar Loaf Project covers 22,195 hectares, located approximately 15 kilometres from Sigma Lithium's Grota do Cirilo Project, located in the state of Minas Gerais, Brazil .
  • The Little Dipper Project covers 16,246 hectares, located approximately 10 kilometres from Oceana's Solonopole Lithium Project in the state of Ceará, Brazil .

Infinity Stone Ventures Corp. (CSE: GEMS) (OTC: GEMSF) (FSE: B2I) (the " Company " or " Infinity Stone "), is pleased to announce that it has optioned the 38,441-hectare Sugar Loaf and Little Dipper Lithium Projects (the " Sugar Loaf Project " and " Little Dipper Project ", respectively; collectively, the " Projects "). The Sugar Loaf Project is located 15 kilometres from both Sigma Lithium Resources' (" Sigma Lithium ") Grota do Cirilo Project and Lithium Ionic Inc's (" Lithium Ionic ") Itinga Project in the state of Minas Gerais, Brazil . The Little Dipper Project is located in the state of Ceará, approximately 10 kilometres from Oceana Lithium Ltd.'s ( "Oceana ") Solonopole Lithium Project. The Sugar Loaf Project comprises 13 exploration permits, while the Little Dipper Project comprises 9 exploration permits. (Figures 1 & 2) .

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