This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Fortune Bay Corp. Completes Flow-through Financing

HALIFAX, April 1, 2014 /PRNewswire/ - Fortune Bay Corp. ("Fortune Bay" or the "Company") (TSX: FOR) is pleased to announce that it has completed its previously announced non-brokered flow-through financing for aggregate gross proceeds to the Company of $450,000 (the "Offering").   The Company issued 1,607,144 units at an issue price of $0.28 per unit, with each unit comprised of one flow-through share and one-half of one warrant.  Each whole warrant will be exercisable into a common share of the Company at an exercise price of $0.30 per share for a period of three years.

The gross proceeds of the Offering will be used by the Company to incur Canadian exploration expenses ("Qualifying Expenditures") prior to December 31, 2015 on Fortune Bay's Goldfields project located in Saskatchewan.  The Company will renounce the Qualifying Expenditures to subscribers of the Flow-Through Shares for the fiscal year ended December 31, 2014.

All securities issued pursuant to the Offering are subject to a statutory four-month hold period in accordance with Canadian securities legislation.

About Fortune Bay Fortune Bay owns, and will be engaged in, the exploration and potential development of the Goldfields project. The Goldfields project is a property comprised of 25,685 ha located in northern Saskatchewan approximately 640 km north of Saskatoon and 450 km southeast of Yellowknife, Northwest Territories. The Goldfields project currently consists of two gold deposits: the Box deposit and the Athona deposit.

Cautionary and Forward‚ÄźLooking 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. 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.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs