By Devika Patel
Knoxville, Tenn., May 4 - Fortress Minerals Corp. announced it plans a C$3.5 million private placement of shares.
The company will sell 14 million common shares at C$0.25 apiece. Kinross Gold Corp. will buy 10 million shares for C$2.5 million.
Proceeds will be used for work on the Svetloye Gold Project in Russia as well as 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$3.5 million
|
| Shares: | 14 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Investor: | Kinross Gold Corp. (for C$2.5 million)
|
| Pricing date: | May 4
|
| Stock symbol: | TSX Venture: FST
|
| Stock price: | C$0.29 at close May 1
|
| Market capitalization: | C$40.6 million
|
© 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.
