Fortune Bay Announces Deferral of Non- Brokered Private Placement

Fortune Bay Announces Deferral of Non-

Brokered Private Placement

HALIFAX

,

March 20, 2020

/CNW/ - Fortune Bay Corp. (TSXV: FOR) ("

Fortune

" or the "

Company

")

today announced that it intends to defer its previously announced non-brokered private placement.

The Company will consider a private placement at a future date when fewer economic and market

uncertainties exist.

About Fortune Bay

Fortune Bay is in the business of resource property exploration and owns 100% interests in two

properties: the Goldfields Project, located in

Saskatchewan, Canada

and the Ixhuatán Project

located in the Chiapas State of Mexico.

Cautionary and Forward

Looking Statements

Except for the statements of historical fact contained herein, certain information presented

constitutes "forward-looking information" within the meaning of applicable Canadian securities laws.

Such forward-looking information, includes, but is not limited to, the ability to complete another

private placement. While such forward-looking statements are expressed by Fortune Bay, as stated

in this release, in good faith and believed by Fortune Bay to have a reasonable basis, they are

subject to important risks and uncertainties. As a result of these risks and uncertainties, the events

predicted in these forward-looking statements may differ materially from actual results or events.

These forward-looking statements are not guarantees of future performance, given that they involve

risks and uncertainties. Fortune Bay does not undertake any obligation to release publicly revisions

to any forward-looking statement, except as may be required under applicable securities laws.

Investors should not assume that any lack of update to a previously issued forward-looking

statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking

statements is at investors' own risk.

Neither the 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.

SOURCE

Fortune Bay Corp.

View original content:

http://www.newswire.ca/en/releases/archive/March2020/20/c4280.html

%SEDAR: 00039152E

For further information:

Sarah Oliver, CFO, Fortune Bay Corp., 2001-1969 Upper Water Street,

Halifax, NS, B3J 3R7, T: 902-422-1421, E: [email protected]

CO: Fortune Bay Corp.

CNW 08:02e 20-MAR-20