HALIFAX, Feb. 15, 2018 /CNW/ - Fortune Bay Corp.
(TSXV: FOR) ("Fortune" or the "Company") announces
that it is increasing its previously announced non-brokered private
placement to aggregate gross proceeds of up to $915,000 from $750,000 (the "Offering"). The Company
intends to issue 2,287,500 units at an issue price of $0.40 per unit, with each unit comprised of one
common share and one common share purchase warrant. Each
warrant will be exercisable into one common share of the Company at
an exercise price of $0.60 per share
for a period of three years.
All other terms of the Offering remain the same.
Closing of the Offering is subject to the approval of the TSX
Venture Exchange. All securities issued pursuant to the
Offering will be subject to a statutory four-month hold period in
accordance with Canadian securities legislation.
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 closing of the Offering and the use of the proceeds
of the Offering. 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.