Forte Minerals Closes Oversubscribed Private Placement Offering
For Immediate Release June 27, 2024
Forte Minerals Corp. Closes Oversubscribed Private Placement Offering
(Not for distribution to United States newswire services or
for dissemination in the United States of America)
VANCOUVER, British Columbia, June 27, 2024 – Forte Minerals Corp . (“Forte” or the
“Company”) (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA), is pleased to announce the closing
of its previously announced non- brokered private placement (the "Offering") (see press release
dated June 5, 2024). The Offering was initially set for 7,500,000 units but, due to high demand,
was oversubscribed, resulting in the issuance of 8,953,000 units at a price of CAD $0.20 per unit
for aggregate gross proceeds of CAD $1,790,600.
Each unit in the Offering consisted of one common share (each, a "Share") and one -half of a
common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the
holder to purchase one additional common share (each, a "Warrant Share") at an exercise price
of CAD $0.30 per Warrant Share until June 26, 2026.
All securities issued in connection with the Offering are subject to a statutory hold period expiring
on October 27, 2024.
The Company paid cash finder’s fees totaling $86,736.00 and issued 433,680 finder’s warrants,
on the same terms as the Warrants , to investment advisors who introduced subscribers to the
Offering.
The net proceeds from the Offering will be used to fund Forte's exploration programs, including
the initial 1,200 m drill program at the Pucarini Gold Project and comprehensive surface
exploration programs at Esperanza and Alto Ruri. Funds will also suppor t ongoing social
engagement and drill permitting efforts, alongside general working capital purposes.
Certain directors of the Company have purchased or acquired direction or control over a total of
150,000 Units in the Offering which participation constitutes a "related party transaction" within
the meaning of Multilateral Instrument 61- 101 Protection of Minority Security Holders in Special
Transactions ("MI 61- 101"). Notwithstanding the foregoing, the directors of the Company have
determined that the issuance of the Units is exempt from the formal valuation and minority
shareholder approval requirements of MI 61 -101 in reliance on the exemptions set forth in
sections 5.5(a) and 5.7(1)(b) of MI 61-101.
Patrick Elliott, President and CEO of Forte Minerals, expressed his gratitude: "We are thankful for
the overwhelming support from our shareholders, which reflects strong confidence in Forte's
strategic vision and our exploration targets. This successful capital raise marks a significant
milestone in advancing our projects towards discovery."
ABOUT FORTE MINERALS CORP.
Forte Minerals Corp., a junior exploration company that has blended assets in partnership
with GlobeTrotters Resources Perú S.A.C., has built a robust portfolio of high-quality Cu and Au
assets in Perú. The Company aims to generate significant value growth by strategically
positioning permitted and drill-ready projects alongside historically discovered copper and gold
projects. Notwithstanding its resource discovery and development focus, Forte is deeply
committed to community engagement, environmental stewardship, and fulfilling its societal
responsibilities.
On behalf of FORTE MINERALS CORP.
(signed) “Patrick Elliott”
Chief Executive Officer
For further information, please contact:
Forte Minerals Corp.
office: 604-983-8847
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.