Forte Minerals Closes a Second C$5.7 Million Strategic Investment and Additional Participation from Existing Strategic Investor

Executive Summary

• Forte Minerals closed a non‑brokered private placement raising approximately C$6.33 million from two strategic investors.
• The offering consisted of 7,032,393 common shares issued at C$0.90 per share, with an additional 699,060 shares purchased by the First Strategic Investor to maintain its ownership stake.
• Proceeds will be used to fund exploration on Forte’s four Peruvian projects and for general working capital; the company also granted 150,000 stock options to consultants.

Key Details

• Total Gross Proceeds: ~C$6,329,153 (C$5.7 M from the placement + C$629,154 from the First Strategic Investor’s rights exercise).
• Shares Issued: 7,032,393 common shares at C$0.90 per share.
• Strategic Investors: Two investors; one exercised its Investor Rights Agreement to purchase an additional 699,060 shares.
• Hold Period: All securities subject to a statutory four‑month‑and‑one‑day hold period expiring March 4, 2026.
• Use of Proceeds: Advance exploration across Forte’s portfolio of four Peruvian projects; portion allocated to general working capital and corporate purposes.
• Stock Options Granted: 150,000 options to consultants, exercisable at C$1.25 per share for five years, subject to plan terms and regulatory approvals.
• CEO Comment: Patrick Elliott highlighted the placement as a milestone that strengthens shareholder base and accelerates copper‑gold exploration in Peru.

Notable Quotes

“Closing this placement marks another milestone for Forte… Their participation strengthens Forte’s shareholder base and positions the Company to accelerate its copper‑gold exploration programs with meaningful momentum.” – Patrick Elliott, President & CEO