Forte Minerals closes $5.7-million private placement

Executive Summary

• Forte Minerals Corp. has closed a second non-brokered private placement with a strategic investor, raising C$5.7 million in gross proceeds.
• The first strategic investor exercised its right to participate in the offering to maintain its ownership position, contributing an additional $629,154.
• Total gross proceeds from the combined placements with both strategic investors amount to approximately $6,329,153, resulting in the issuance of 7,032,393 common shares.

Key Details

• Second Investor Transaction:
  • Issued 6,333,333 common shares.
  • Price per share: 90 cents.
  • Gross proceeds: $5,700,000.
• First Investor Participation:
  • Exercised rights under the investor rights agreement dated July 23, 2025.
  • Acquired 699,060 common shares.
  • Price per share: 90 cents.
  • Additional gross proceeds: $629,154.
• Combined Transaction Totals:
  • Total gross proceeds: ~$6,329,153.
  • Total common shares issued: 7,032,393.
  • Hold period: Statutory four-month-and-one-day hold period expiring March 4, 2026.
• Use of Proceeds:
  • Advancing exploration across Forte's portfolio of four Peruvian projects.
  • Supporting general working capital and corporate purposes.
• Additional Corporate Actions:
  • Granted 150,000 stock options to consultants.
  • Option exercise price: $1.25 per share.
  • Option term: Five years.
  • Subject to terms of the existing stock option plan and regulatory approvals.

Notable Quotes

• "Closing this placement marks another milestone for Forte. Within three months, we've welcomed two strategic investors who share our long-term vision and confidence in the quality of our Peruvian portfolio. Their participation strengthens Forte's shareholder base and positions the company to accelerate its copper-gold exploration programs with meaningful momentum." — Patrick Elliott, President and CEO