Fidelity Minerals Announces Closing of Private Placement Financing

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)



   

Vancouver, BC – TheNewswire - August 10th, 2020 – Fidelity Minerals Corp. (TSXV:FMN) | (FSE:S5GM) | (SSE:MNYC) (“Fidelity Minerals” or the “Company”) is pleased to announce that it has closed the non-brokered private placement (the “Private Placement”) previously announced in its News Release dated July 27, 2020, as increased in its News Release dated August 4, 2020.

For the Private Placement, the Company issued a total of 7,668,121 units (each, a “Unit”) at $0.06 per Unit for gross proceeds of $ $460,087. Of the total Units issued, 5,015,583 Units were subscribed by Lions Bay Capital Inc., a Control Person, and 1,286,538 Units were subscribed by management. Each Unit consists of one common share (each, a “Share”) and one transferable share purchase warrant (each, a “Warrant”) with each Warrant exercisable into an additional common share at $0.07 per share until August 10, 2022. The securities issued pursuant to the Private Placement are subject to a four month hold period that expires on December 11, 2020. Finders’ fees totalling $2,938 were paid relating to the Private Placement. The Company intends to use the net proceeds of the Private Placement for corporate working capital purposes.

The Private Placement is subject to final approval of the TSX Venture Exchange.

About Fidelity Minerals Corp.

Fidelity Minerals Corp. is assembling a portfolio of high-quality mining assets in Peru through the implementation of our Strategic Project Generator (SPG) model. The project generator model involves the identification and acquisition of appraisal stage opportunities with near-term valuation catalysts, including potential for high-impact M&A. The company is backed by an experienced management team with diverse technical, market, and commercial expertise and is supported by committed and sophisticated investors focused on building long term value.  

On behalf of the Board of Fidelity Minerals;

Ian Graham
CEO and Director
Tel: +1.604.671.1353
Email: [email protected]

Investor Contact:

Bahay Ozcakmak
Executive Chairman
Tel: +61.414.596.007
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Copyright (c) 2020 TheNewswire - All rights reserved.