.jpg)
12 hours ago
1
Article content
“Not for distribution to United States newswire services or for dissemination in the United States.”
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
VANCOUVER, British Columbia, July 23, 2025 (GLOBE NEWSWIRE) — Forte Minerals Corp. (“Forte” or the “Company”) (CSE: CUAU) (OTCQB: FOMNF) (Frankfurt: 2OA), is pleased to announce the closing of its previously announced non-brokered private placement (the “Strategic Placement”) with a strategic investor (the “Investor”). The Investor has acquired 6,326,066 common shares at a price of C$0.90 per share, for gross proceeds of C$5.7 million.
Article content
Article content
Article content
Following today’s closing, the Investor holds 9.99 % of Forte’s issued and outstanding shares on a non-diluted basis, establishing a meaningful, long-term position in the Company’s copper-gold growth pipeline.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
Patrick Elliott, President & CEO, commented:
“Closing this placement is a pivotal milestone for Forte. The investor’s conviction and long-term horizon validates our exploration thesis in Peru. With capital in hand and technical collaboration secured, we can accelerate exploration & drill permitting at Alto Ruri while unlocking value across our broader portfolio.”
Article content
Article content
Use of Proceeds:
Consistent with the terms announced on July 16, 2025, at least 80% of the proceeds will be directed toward exploration activities at Forte’s flagship Alto Ruri high-sulfidation epithermal gold project in central Peru. Remaining funds will be allocated to general working capital and corporate purposes.
Article content
Investor Rights Agreement Highlights:
Concurrent with closing, Forte and the Investor entered into an Investor Rights Agreement whereby the Investor is entitled to certain rights, subject to the Investor maintaining certain ownership thresholds in the Company, including technical information sharing rights and the right to participate in future equity financings and top-up its holdings in relation to dilutive issuances in order to maintain its percentage ownership interest in the Company. The Investor has also agreed to voting support and standstill covenants.
Article content
Article content
In addition, under the Investor Rights Agreement, the Investor and Forte will:
Article content
- form a joint technical advisory committee; and
- collaborate on community engagement and long-term access strategies.
Article content
A copy of the Investor Rights Agreement will be made available on SEDAR+.
Article content
All shares issued under the Strategic Placement are subject to a four-month plus one-day statutory hold period expiring November 24, 2025.
Article content
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 Peru. Through a strategic partnership with GlobeTrotters Resources Perú S.A.C., the Company gains access to a rich pipeline of historically drilled, high-impact targets across premier Andean mineral belts. The Company is committed to responsible resource development that generates long-term value for shareholders, communities, and partners.
Article content
On behalf of FORTE MINERALS CORP.
Article content
(signed) “Patrick Elliott”
Patrick Elliott, MSc, MBA, PGeo
President & Chief Executive Officer
Forte Minerals Corp.
Article content
For further information, please contact:
Investor Inquiries
Kevin Guichon, IR & Capital Markets
E: [email protected]
C: (604) 612-9976
English (US)