Initial C$1.25 million drawdown used to pay a C$1 million downpayment for the Alberta refinery site
LONDON, Ontario / May 22, 2024 / Business Wire / Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) (www.fortuneminerals.com) is pleased to announce that it has entered into a convertible securities agreement with Lind Global Fund II, LP, managed by The Lind Partners (together, “Lind”) for up to C$10,000,000. Fortune has received an initial C$1.25 million in exchange for the issuance of a first convertible security, and subject to the agreement of both parties, additional drawdowns can be made. Most of the proceeds from the first drawdown were used to make a C$1 million downpayment to JFSL Field Services ULC (“JFSL”) to extend the purchase option for the brownfield industrial site and buildings in Lamont County, Alberta on amended terms. Fortune plans to construct a hydrometallurgical…
