Fortune Minerals Announces Repayment of Maturing Debts
· Financial Post
LONDON, Ontario -- Fortune Minerals Limited (TSX: FT) (OTCQB: FTMDF) (“Fortune” or the “Company”) ( www.fortuneminerals.com) is pleased to announce that it has entered into agreements to raise gross proceeds of C$10,000,000 and retire debts totalling approximately C$11.84 million that were maturing on April 30, 2026 (the “Maturing Debts”). Fortune has entered into a new convertible security funding agreement (the “Funding Agreement”) with Lind Global Fund III, LP, an entity managed by The Lind Partners (together, “Lind”), pursuant to which the Company has agreed to draw down C$10,000,000 in exchange for the issuance of a convertible security to Lind (the “Convertible Security”) to pay the principal for the Maturing Debts and provide additional working capital. Read More
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