Vancouver, BC - TheNewswire - July 12th, 2019 - Fidelity Minerals Corp. (TSXV:FMN) (FSE:S5GM) (SSE:MNYC) ("Fidelity Minerals" or the "Company") is pleased to announce that a first tranche of the private placement financing announced on June 12th (the "Financing") of up to 16,000,000 units at a price of $0.05 per unit (for total gross proceeds of up to $800,000) has been closed. Each unit consists of one common share and a half warrant, with each whole warrant exercisable into one additional common share at $0.06 per share for one (1) year after the closing date.
The first tranche comprises 11,010,000 units for gross proceeds of $550,500 (69% of the offering), of which 4,460,000 units were subscribed by Lions Bay Capital, a Control Person, and 1,000,000 units were subscribed by management. The Company expects to close a second and final tranche of the private placement in the very near term.
Finders' fees will be payable to eligible individuals and entities in connection with the Financing in accordance with the policies of the TSX Venture Exchange. The private placement is subject to approval of the TSX Venture Exchange.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is an emerging gold producer focusing on unlocking value from advanced stage mining assets in Peru. 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, now anchored by Lions Bay Capital Inc.
On behalf of the Board of Montan.
CEO and Director
For more information, please visit the corporate website at https://www.fidelityminerals.com or contact:
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