Fuerte Announces Closing of Subscription Receipt Private Placement

Core Points - Fuerte Metals Corporation has successfully closed an offering of subscription receipts through its subsidiary, Finco, raising approximately $57.5 million [1][2] - The proceeds will be utilized for the acquisition of the Coffee Gold Project in Yukon, Canada, and for advancing exploration and development activities [1][2] - The offering involved the issuance of 34,848,485 subscription receipts at a price of $1.65 each [2] Financial Details - The gross proceeds from the offering are approximately $57.5 million, which will be placed into escrow until all release conditions are met [2][3] - The Agents' Fee for the offering is set at 6% of the gross proceeds, with a specific 3% for purchasers on the President's List [5] Transaction Structure - Upon satisfaction of escrow release conditions, subscription receipts will convert into units consisting of one common share and one warrant, with the warrant allowing the purchase of a share at $2.50 for five years [3] - The offering is subject to approval from the TSX Venture Exchange [4] Insider Participation - Certain directors and insiders purchased a total of 5,479,000 subscription receipts, which is classified as a related party transaction [6] - The company is exempt from formal valuation and minority shareholder approval requirements due to the transaction's market capitalization being under 25% [6] Company Overview - Fuerte Metals Corporation is focused on advancing base and precious metals projects across the Americas, with the Coffee Project being its flagship asset [8] - The company also holds additional copper and gold assets in Chile and Mexico, indicating potential for growth and exploration [8]