VANCOUVER, British Columbia, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Forte Minerals Corp. ("Forte" or the "Company") (CSE:CUAU) (OTCQB:FOMNF) (Frankfurt: 2OA) is pleased to announce the closing of its previously announced non-brokered private placement (the "Offering") with a second strategic investor for aggregate gross proceeds of C$5.7 million.
Under the Offering, the Company issued 6,333,333 common shares at C$0.90 per share.
In accordance with the Investor Rights Agreement dated July 23, 2025, the First Strategic Investor exercised its right to maintain its existing ownership position by acquiring 699,060 common shares at C$0.90 per share for additional gross proceeds of C$629,154.
As a result, total gross proceeds from the combined placements with both strategic investors amount to approximately C$6,329,153 through the issuance of 7,032,393 common shares. All securities issued are subject to a statutory four-month-and-one-day hold period expiring March 4, 2026.
Patrick Elliott, President and CEO, commented:
"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.
"We extend our sincere thanks to both new and existing shareholders for their continued confidence and support as we advance Forte's growth strategy in Peru."
Use of ProceedsProceeds from the Offering will be used to advance exploration across Forte's portfolio of four Peruvian projects. A portion of the funds will also support general working capital and corporate purposes.
The Company also granted 150,000 stock options to consultants pursuant to its existing stock option plan. All Options are exercisable at C$1.25 per share for a period ...
