Forte Minerals Completes Miscanthus Acquisition from Globetrotters Resource Group
For Immediate Release October 31, 2024
Forte Minerals Completes Miscanthus Acquisition
from Globetrotters Resource Group
VANCOUVER, British Columbia, October 31, 2024 – Forte Minerals Corp. (“Forte” or the
“Company”) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), a Canadian exploration company
focused on developing copper and gold assets in Peru, is pleased to announce the completion of
its acquisition of the Miscanthus Property (the “Property”) a high- sulphidation epithermal gold -
silver and porphyry copper -molybdenum-gold prospect in central Peru from Globetrotters
Resource Group Inc. (“Globetrotters”), as initially announced on October 23, 2024.
The Property consists of 4 Concessions: Totaling 3,200 hectares, which was transferred to
Forte's Peruvian subsidiary, Cordillera Resources Perú S.A.C and includes a n approved DIA
drilling permit for up to 40 platforms over 172 hectares, significantly lowering permitting risk.
Under the Mineral Asset Purchase Agreement dated October 21, 2024, between Forte and
Globetrotters, to acquire the Property, Forte made a one-time cash payment of US$27,000, issued
3,000,000 common shares at a deemed price of $0.23 per share, and granted a 1.0% net smelter
return (NSR) royalty to Globetrotters.
With the acquisition now complete, Forte is well-positioned to advance exploration at Miscanthus.
For further details, please refer to Forte's October 23, 2024, press release.
As GlobeTrotters is the beneficial owner of more than 10% of Forte’s outstanding shares, it is a
“related party” to the Company within the meaning of Multilateral Instrument 61 -101- Protection
of Minority Security Holders in Special Transactions ("MI 61-101"). As such, the acquisition of the
Property was a "related party transaction" within the meaning of MI 61-101. The Company relied
on exemptions from the formal valuation and the minority shareholder approval requirements of
MI 61-101 found in sections 5.5(a) and 5.7(1)(a) of MI 61 -101 as the fair market value of the
Property and consideration payable therefore does not constitute more than the 25% of the
Company’s market capitalization.
Prior to the completion of the acquisition, GlobeTrotters held 5,833,333 common shares
representing 12.36% of the then outstanding shares and following the acquisition, GlobeTrotters
now holds 8,833,333 shares and 833,333 warrants, representing 17.60% of the outstanding
shares on an undiluted basis and, assuming full exercise of the warrants held approximately
18.94% of the issued and outstanding shares on a partially diluted basis. While GlobeTrotters has
no plans or intentions with respect to the securiti es held by it , depending on market conditions,
general economic and industry conditions, trading prices of the shares, the Company’s business,
financial condition and prospects and/or other relevant factors, GlobeTrotters may develop such
plans or intentions in the future and, at such time, may from time to time acquire additional shares,
dispose of some or all of the existing or additional shares or may continue to hold the shares of
the Company.
A copy of the early warning report filed by GlobeTrotters will be available on the Company’s
SEDAR profile at www.sedar.com or may be obtained by contacting Richard Osmond at (604)
466-0425
All securities issuable in the acquisition are subject to a four month and one day hold period
ending on March 1, 2025.
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. (“GT R ”) 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:
Glen Watson, Investor Relations
1-844-863-3622
Forte Minerals Corp.
office: 604-983-8847
www.forteminerals.com
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