Fuerte Metals raises C$17.25 million in flow-through share offering

Fuerte Metals Corporation (TSXV: FMT) (OTCQB: FUEMF) completed a brokered private placement raising C$17.25 million in gross proceeds through the sale of flow-through shares.

The offering included 1,380,950 flow-through common shares priced at C$5.25 each, generating C$7.25 million, and 1,655,620 special flow-through common shares at C$6.04 per share for C$10 million in proceeds.

Stifel Nicolaus Canada Inc. and BMO Capital Markets served as co-lead agents and joint bookrunners, working with a syndicate including National Bank Financial Inc., Desjardins Capital Markets and Ventum Financial Corp. The agents received a 5% cash commission on gross proceeds, reduced to 2% for sales to purchasers on the president's list.

The shares are subject to a statutory hold period in Canada until April 19, 2026. Company insiders purchased 280,000 flow-through shares in the offering.

Fuerte stated it will use the proceeds to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures related to its Coffee Gold Project by December 31, 2026. The company plans to renounce all qualifying expenditures to subscribers effective December 31, 2025.

The Coffee Gold Project in Yukon, Canada contains 3.0 million ounces of measured and indicated resources and 0.8 million ounces of inferred resources. Fuerte also holds copper and gold assets in Chile and Mexico.

You May Also Be Interested In

• Nuvectis Pharma (NVCT) files $200M mixed shelf
• QSE closes $6M private placement with final tranche of $674K
• ZeroStack (ZSTK) files for 54.61M share offering by selling stockholders