Forte Minerals arranges $5.7-million financing

Executive Summary

• Forte Minerals Corp. has entered into an agreement for a C$5.7 million strategic investment via a non-brokered private placement of 6,333,333 common shares at C$0.90 per share with a second strategic investor.
• The transaction is expected to close on or before November 5, 2025, subject to regulatory approvals, with proceeds designated to advance four exploration projects in Peru and for general working capital.
• The first strategic investor (from a July 2025 placement) retains a contractual right to participate in this financing to maintain a 9.9% ownership interest; if exercised, total gross proceeds could increase to approximately C$6.6 million.

Key Details

• Transaction Structure: Non-brokered private placement of common shares.
• Investor: Second strategic investor (specific identity not disclosed in text).
• Share Quantity: 6,333,333 common shares issued.
• Price Per Share: C$0.90.
• Gross Proceeds: C$5.7 million.
• Potential Upside: If the first strategic investor exercises their right to maintain a 9.9% ownership interest, they may purchase up to 994,598 additional shares at C$0.90 per share.
• Total Potential Proceeds: Approximately C$6.6 million (issuance of up to 7,327,931 total shares).
• Use of Proceeds: Advancing Forte's portfolio of four exploration projects in Peru; portion allocated to general working capital and corporate purposes.
• Closing Conditions: Expected to close on or before November 5, 2025, subject to regulatory approvals.
• Hold Period: All securities subject to a statutory four-month-and-one-day hold period under Canadian securities laws.
• Fees: No finders' fees or commissions paid.
• Strategic Context: The investment validates the strength of Forte's exploration portfolio and progress on drill-ready projects in Peru, adding local partnership depth.

Notable Quotes

• "This is a pivotal moment for Forte. Having a second well-distinguished strategic investor join our shareholder base further validates the strength of our exploration portfolio and the progress we've made in advancing drill-ready projects in Peru. This investment adds further depth, local partnership and momentum as we continue building a pipeline of copper and gold discoveries." — Patrick Elliott, President and CEO
• "This is more than an investment. It's a partnership built on a shared vision to unlock the next generation of discoveries that will help sustain Peru's position as a global leader in copper and gold production." — Patrick Elliott, President and CEO