Fortune BAY to Complete Non-Brokered Private Placement
TSXV: FOR | FWB: 5QN | OTCQB: FTBYF
fortunebaycorp.com
NEWS RELEASE
FORTUNE BAY TO COMPLETE NON-BROKERED PRIVATE PLACEMENT
HALIFAX, NS April 2, 2025 – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) (“Fortune
Bay” or the “Company”) is pleased to announce that it intends to complete a non-brokered private
placement for aggregate gross proceeds of up to $2,80 0,000 (the "Offering"). The Company intends to
issue up to 8,750,000 units. Each unit will be issued at a price of $0.32 per unit, with each unit comprised
of one common share and one-h alf common share purchase warrant. Each whole warrant will be
exercisable into one common share of the Company at an exercise price of $0.45 per share for the first
year from the date of issuance and $0.55 per share for the second year from the date of issuance.
The Company intends to use the proceeds of the Offering to fund advancement of the Company’s projects
in Canada and Mexico, and for general corporate purposes.
Closing of the Offering is subject to the approval of the TSX Venture Exchange. All sec urities is sued
pursuant to the Offering will be subject to a statutory four-m onth hold period in accordance with Canadian
securities legislation.
Certain insiders of the Company may participate in the Offering. Such participation would be considered a
related party transaction within the meaning of Multilateral Instrument 61-1 01 – Protection of Minority
Security Holders in Special Transactions ("MI 61-1 01"). The related party transaction is ex pected to be
exempt from minority approval and valuation requirements pursuant to the exemptions contained in Section
5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the securities to be issued under the Offering
will not exceed 25% of the Company's market capitalization.
About Fortune Bay
Fortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQB:FTBYF) is an exploration and development company
with 100% ownership in two advanced gold projects in Canada, Saskatchewan (Goldfields Project) and
Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also
advancing seven uranium exploration projects on the northern rim of the Athabasca Basin, Saskatchewan,
which have high-g rade potential. The Company has a goal of building a mid-t ier exploration and
development Company through the advanc ement of its exis ting projects and the strategic acquisition of
new projects to create a pipeline of growth opportunities. The Company’s corporate strategy is driven by a
Board and Management team with a proven track record of discovery, project dev elopment and v alue
creation. Further information on Fortune Bay and its assets can be found on the Company’s website at
www.fortunebaycorp.com or by contac ting us as [email protected] or by telephone at
902-334-1919.
On behalf of Fortune Bay Corp.
”Dale Verran”
Chief Executive Officer
902-334-1919
Cautionary Statement Regarding Forward-Looking Information
Information set forth in this news release contains forward- looking statements that are based on assumptions as of the date of this
news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not
guarantees of future performance. Words such as “expects”, “aims”, “anticipates”, “targets”, “goal s”, “projects”, “intends”, “plans”,
“believes”, “seeks”, “estimates”, “continues”, “may”, variations of such words, and similar expressions and references to future periods,
are intended to identify such forward-looking statements.
Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they
involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors
involved with forward- looking information could cause actual events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward- looking information. Forward looking information in this news release
includes, but is not limited to, the Company’s objectives, goals, intentions or future plans, statements, exploration results , potential
mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results
to differ materially from such forward- looking information include, but are not limited to failure to identify targets or mineralization,
delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, i nability to
fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project
communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships
needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the
development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral
exploration and development industry, and those risks set out in the C ompany’s public documents filed on SEDAR+. Although the
Company believes that the assumptions and factors used in preparing the forward- looking information in this news release are
reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise,
other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at
www.fortunebaycorp.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.