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VANCOUVER, British Columbia, May 23, 2025 (GLOBE NEWSWIRE) — Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), intends to complete a non-brokered private placement (the “Offering”) to raise up to C$2,400,000 for drilling and exploration programs on the Company’s Peruvian projects and for general working capital, all as further outlined below.
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The Offering involves the sale of up to 6,000,000 units (each a “Unit”) at a price of $0.40 per Unit.
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Unit Terms:
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- Each Unit: one common share and one-half of one common share purchase warrant
- Warrant: each whole warrant exercisable for one common share at C$0.60 until the date that is 24 months from the closing of the Offering, provided the warrants are subject to accelerated exercise such that if the closing price of the Company’s common shares exceeds C$0.90 per share for a period of 20 consecutive trading days, the Company may give notice of the acceleration of the warrants’ term to a period of 30 days following such notice.
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All securities issued will be subject to a statutory four-month-plus-one-day hold period in accordance with applicable Canadian securities laws. Additional restrictions may apply pursuant to the Securities Act of 1933, as amended, to U.S. investors, if any.
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Use of Proceeds:
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- Pucarini: Inaugural five-hole drill program for total of 1750m scheduled to start this July 2025.
- Esperanza: MT Survey
- Alto Ruri: DIA Drill Permitting and Community Agreements, surface exploration work including follow-up alteration and geological mapping, geochemical sampling, spectral analysis, IP and CSMAT.
- General working capital
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Finder’s fees may be paid to eligible persons in connection with the Offering, subject to the policies of the CSE.
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The Company, at its discretion, reserves the right to increase the size of the Offering by up to $300,000.00 through the sale of 750,000 additional Units, for an aggregate Offering not exceeding $2,700,000.
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“We appreciate our shareholders’ continued confidence,” stated Patrick Elliott, President and CEO. “This financing positions us to drill test a high sulphidation system that’s never been drilled and to unlock the value of Alto Ruri, Esperanza and Miscanthus .”
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The Offering is expected to close on or before June 15, 2025, subject to customary conditions, including the receipt of all required regulatory approvals.
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ABOUT FORTE MINERALS CORP.
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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. (“GTR”) 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.
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