Latest news with #FortuneBayCorp
Yahoo
29-04-2025
- Business
- Yahoo
Insider Spends CA$320k Buying More Shares In Fortune Bay
Potential Fortune Bay Corp. (CVE:FOR) shareholders may wish to note that the Executive Chairman, Wade Dawe, recently bought CA$320k worth of stock, paying CA$0.32 for each share. That's a very decent purchase to our minds and it grew their holding by a solid 15%. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. In fact, the recent purchase by Wade Dawe was the biggest purchase of Fortune Bay shares made by an insider individual in the last twelve months, according to our records. Even though the purchase was made at a significantly lower price than the recent price (CA$0.51), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive. In the last twelve months Fortune Bay insiders were buying shares, but not selling. They paid about CA$0.27 on average. To my mind it is good that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction! View our latest analysis for Fortune Bay There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them). For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Fortune Bay insiders own about CA$4.6m worth of shares. That equates to 16% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Given that insiders also own a fair bit of Fortune Bay we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Fortune Bay is showing 5 warning signs in our investment analysis, and 2 of those don't sit too well with us... Of course Fortune Bay may not be the best stock to buy. So you may wish to see this free collection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Malaysian Reserve
23-04-2025
- Business
- Malaysian Reserve
FORTUNE BAY CLOSES $3,000,000 PRIVATE PLACEMENT
HALIFAX, NS, April 23, 2025 /CNW/ – Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ('Fortune Bay' or the 'Company') is pleased to announce that it has closed its non-brokered private placement (the 'Offering'), previously announced on April 7, 2025, for aggregate gross proceeds of $3,000,000. The Company issued 9,375,000 units. Each unit was issued at a price of $0.32 per unit, with each unit comprised of one common share and one-half common share purchase warrant. Each whole warrant is exercisable into one common share of the Company at an exercise price of $0.45 per share for the first year from the date of issuance and $0.55 per share for the second year from the date of issuance. Directors, officers and other non-arm's length parties of the Company subscribed for an aggregate of 1,531,250 units. The Company intends to use the proceeds of the Offering to fund advancement of the Company's projects in Canada and Mexico, and for general corporate purposes. Numus Capital Corp. ('Numus') acted as a finder for a portion the Offering. Finder's fees of $17,500 were paid in cash and a total of 54,688 non-transferable finder's warrants were issued (the 'Finder's Warrants'), having an exercise price of $0.45 per share for the first year from the date of issuance and $0.55 per share for the second year from the date of issuance. Each Finder's Warrant entitles the finder to purchase one common share at the applicable exercise price for two years from the date of issue. Numus is a non-arm's length party to the Company as a director of the Company holds a non-controlling interest in Numus. The engagement of Numus, and the purchase of units by insiders of the Company pursuant to the Offering, constitutes a 'related party transaction', as such terms are defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company is relying on an exemption from the formal valuation requirements of MI 61-101 available on the basis of the securities of the Company not being listed on specified markets. The Company is also relying on the exemption from minority shareholder approval requirements under MI 61-101 as the fair market value of the participation in the Offering by the Insiders does not exceed 25% of the market capitalization of the Company. All securities issued pursuant to the Offering will be subject to a four-month and one day hold period. About Fortune Bay Fortune Bay Corp. (TSXV:FOR) (FWB:5QN) (OTCQB:FTBYF) is an exploration and development company with 100% ownership in two advanced gold projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing seven uranium exploration projects on the northern rim of the Athabasca Basin, Saskatchewan, which have high-grade potential. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company's website at or by contacting us as info@ or by telephone at 902-334-1919. On behalf of Fortune Bay Corp. 'Dale Verran'Chief Executive Officer Cautionary Statement Regarding Forward-Looking Information Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as 'expects', 'aims', 'anticipates', 'targets', 'goals', 'projects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'continues', 'may', variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Globe and Mail
07-04-2025
- Business
- Globe and Mail
FORTUNE BAY TO INCREASE NON-BROKERED PRIVATE PLACEMENT
HALIFAX, NS , /CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce that it intends to increase the non-brokered private placement (the "Offering"), previously announced on April 2, 2025 , to aggregate gross proceeds of up to $3,000,000 . The Company intends to issue up to 9,375,000 units. Each unit will be issued at a price of $0.32 per unit, with each unit comprised of one common share and one-half common share purchase warrant. Each whole warrant will be exercisable into one common share of the Company at an exercise price of $0.45 per share for the first year from the date of issuance and $0.55 per share for the second year from the date of issuance. The Company intends to use the proceeds of the Offering to fund advancement of the Company's projects in Canada and Mexico , and for general corporate purposes. Closing of the Offering is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a statutory four-month hold period in accordance with Canadian securities legislation. Certain insiders of the Company may participate in the Offering. Such participation would be considered a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (" MI 61-101"). The related party transaction is expected to be exempt from minority approval and valuation requirements pursuant to the exemptions contained in Section 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the securities to be issued under the Offering will not exceed 25% of the Company's market capitalization. About Fortune Bay Fortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQB:FTBYF) is an exploration and development company with 100% ownership in two advanced gold projects in Canada , Saskatchewan (Goldfields Project) and Mexico , Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing seven uranium exploration projects on the northern rim of the Athabasca Basin, Saskatchewan , which have high-grade potential. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company's website at or by contacting us as info@ or by telephone at 902-334-1919. On behalf of Fortune Bay Corp. "Dale Verran" Chief Executive Officer Cautionary Statement Regarding Forward-Looking Information Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at
Yahoo
19-03-2025
- Business
- Yahoo
AERO ENERGY AND FORTUNE BAY COMMENCE DRILLING AT HOWLAND LAKE, MURMAC URANIUM PROJECT
HALIFAX, NS, March 19, 2025 /CNW/ - Fortune Bay Corp. (TSXV: FOR) (FWB: 5QN) (OTCQB: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce the commencement of drilling at Howland Lake on the Murmac Uranium Project ("Murmac" or the "Project"), located in northern Saskatchewan near Uranium City. The program is expected to include up to six drill holes, totalling approximately 900 metres, to further test the Howland Lake electromagnetic ("EM") conductors which returned uranium intercepts from first-pass drilling. As demonstrated from previous exploration results, the Project has potential to host high-grade, basement-hosted deposits typical of the Athabasca Basin. Exploration work at Murmac is being funded by Aero Energy Limited (TSXV: AERO) (OTC Pink: AAUGF) (FSE: UU3) ("Aero"), and is being operated by Fortune Bay, under an Option Agreement that was executed on December 15, 2023. Highlights: High-Grade Follow-Up: Drilling to be focused at Howland Lake North on targets along strike of drill hole M24-017 that intersected 8.40 m at 0.30% U3O8, with individual assays up to 13.80% U3O8 over 0.10 m. Additional drilling is planned at Howland Lake South, along strike of drill hole M22-012 that intersected 0.17% U3O8 over 0.10 m. Compelling Drill Target Support: Selected drill targets (Figure 1) are backed by favorable criteria for high-grade basement-hosted deposits, including EM conductor breaks, structure, and significant hydrothermal alteration noted in historical drill holes. Known mineralized cross faults and strong radon-in-water anomalies from recent surveys further support target selection (see News Release dated February 20, 2025). Focused Drilling Program: The winter 2025 drilling program will be focused on priority targets developed at Howland Lake which will be more efficiently tested from ice-based drill hole locations. Numerous other priority targets have also been identified along Murmac's extensive graphitic corridors (>35 kilometres of strike) that warrant future drill testing. Dale Verran, CEO for Fortune Bay, commented "Alongside Aero Energy, we are excited to have started this next phase of exploration at Murmac, directed at drill testing a set of priority targets at Howland Lake. These targets possess the necessary criteria for a meaningful basement-hosted discovery, and we are looking forward to the results." Technical DisclosureDetails regarding previous Fortune Bay drill results from 2022 and 2024 can be found in news releases dated October 8, 2024, and December 13, 2022, respectively. Further details regarding historical exploration/drilling and exploration results noted in this news release can be found within the Saskatchewan Mineral Assessment Database (SMAD) references 74N07-0011, 74N07-0173 and 74N07-0277. Fortune Bay has verified several of these occurrences through field prospecting and sampling, however there is a risk that any future confirmation work and exploration may produce results that substantially differ from the unverified historical results. The Company considers the unverified historical results relevant to assess the mineralization and economic potential of the property. Qualified PersonThe technical and scientific information in this news release has been reviewed and approved by Gareth Garlick, Technical Director of the Company, who is a Qualified Person as defined by NI 43-101. Mr. Garlick is an employee of Fortune Bay and is not independent of the Company under NI 43-101. About Fortune BayFortune Bay Corp. (TSXV:FOR, FWB:5QN, OTCQB:FTBYF) is an exploration and development company with 100% ownership in two advanced gold projects in Canada, Saskatchewan (Goldfields Project) and Mexico, Chiapas (Ixhuatán Project), both with exploration and development potential. The Company is also advancing seven uranium exploration projects on the northern rim of the Athabasca Basin, Saskatchewan, which have high-grade potential. The Company has a goal of building a mid-tier exploration and development Company through the advancement of its existing projects and the strategic acquisition of new projects to create a pipeline of growth opportunities. The Company's corporate strategy is driven by a Board and Management team with a proven track record of discovery, project development and value creation. Further information on Fortune Bay and its assets can be found on the Company's website at or by contacting us as info@ or by telephone at 902-334-1919. On behalf of Fortune Bay Corp. "Dale Verran"Chief Executive Officer902-334-1919 Cautionary Statement Regarding Forward-Looking InformationInformation set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. Words such as "expects", "aims", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates", "continues", "may", variations of such words, and similar expressions and references to future periods, are intended to identify such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals, intentions or future plans, statements, exploration results, potential mineralization, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify targets or mineralization, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, inability to reach access agreements with other Project communities, amendments to applicable mining laws, uncertainties relating to the availability and costs of financing or partnerships needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR+. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. For more information on Fortune Bay, readers should refer to Fortune Bay's website at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE Fortune Bay Corp. View original content to download multimedia:
