By Devika Patel
Knoxville, Tenn., Jan. 31 - Fortress Minerals Corp. said it plans a C$13 million non-brokered private placement of shares.
The company will sell 10 million common shares at C$1.30 apiece. Vostok Nafta Investment Ltd. will buy 6 million shares for C$7.8 million.
Proceeds will be used to repay a Jan. 8 loan, for work at the company's Svetloye project in Russia and for general working capital.
Vancouver, B.C.-based Fortress is a precious and base metals exploration company.
| Issuer: | Fortress Minerals Corp.
|
| Issue: | Common shares
|
| Amount: | C$13 million
|
| Shares: | 10 million
|
| Price: | C$1.30
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Vostok Nafta Investment Ltd. (for C$7.8 million)
|
| Pricing date: | Jan. 31
|
| Stock symbol: | TSX Venture: FST
|
| Stock price: | C$1.34 at close Jan. 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
