By Laura Lutz
New York, Dec. 13 - Fortress Minerals Corp. upsized its previously announced private placement of shares to C$13.2 million from C$12 million.
The company now plans to sell a maximum of 11 million shares, up from 10 million shares when the deal priced on Tuesday. The shares will be sold at C$1.20 each.
The deal will be non-brokered.
Proceeds will be used for ongoing exploration at the company's Svetloye gold project in Russia. The rest will be used for working capital.
Vancouver, B.C.-based Fortress is a precious and base metals exploration company.
| Issuer: | Fortress Minerals Corp.
|
| Issue: | Stock
|
| Amount: | C$13.2 million
|
| Shares: | 11 million
|
| Price: | C$1.20
|
| Warrants: | No
|
| Placement agent: | Non-brokered
|
| Pricing date: | Dec. 12
|
| Upsized: | Dec. 13
|
| Stock symbol: | TSX Venture: FST
|
| Stock price: | C$1.20 at close Dec. 11
|
| Stock price: | C$1.20 at close Dec. 12
|
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