HALIFAX, July 11, 2016 /CNW/ - Fortune Bay Corp.
(TSXV: FOR) ("Fortune Bay" or, the "Company") announces that the
board of directors of the Company has approved the granting of
1,000,000 incentive stock options (the "Options") pursuant to the
Company's Stock Option Plan. Directors, officers and employees
were awarded 200,000, 700,000 and 100,000 stock options
respectively. The Options are exercisable at a price of
$0.40 per share, expire on
July 11, 2021 and vest over a
thirty-six-month period.
About Fortune Bay Corp.
Fortune Bay is engaged in the exploration and potential
development of two primary mining projects: the Goldfields project
and the Ixhuatán project. The Goldfields project is a property
located in northern Saskatchewan
and consists of two gold deposits: the Box deposit and the Athona
deposit. The Ixhuatán project is located in the northern Chiapas
State in Mexico.
The TSXV has not reviewed this news release and does not
accept responsibility for the adequacy or accuracy of this news
release. The TSXV has neither approved nor disapproved the contents
of this news release.
All statements other than statements of historical fact,
included in this release, including, without limitation, statements
regarding potential mineralization and reserves, exploration
results, and future plans and objectives of the Company, are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are exploration risks
detailed herein and from time to time in the filings made by the
Company with securities regulators.
SOURCE Fortune Bay Corp.