SAIDF - Fidelity Minerals Announces Closing of Oversubscribed Private Placement Financing
(TheNewswire)
Vancouver, BC - TheNewswire - April 16 th , 2021 - FidelityMinerals Corp. (TSXV:FMN ) (OTC:SAIDF) ( FSE:S5GM ) ( SSE:MNYC) (“ Fidelity Minerals ” or the “ Company ”) is pleased to announce that it has closed thenon-brokered private placement (the “Private Placement”)previously announced in its News Release dated March 22, 2021. For thePrivate Placement, the Company issued a total of 9,896,720 units(each, a “Unit”) at $0.125 per Unit for gross proceeds of$1,237,090. Of the total Units issued, 1,056,000 units were subscribedby Lions Bay Capital Inc., a Control Person, and 141,120 units weresubscribed 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 anadditional common share at $0.15 per share until April 16, 2023. Thesecurities issued pursuant to the Private Placement are subject to afour month hold period that expires on August 17, 2021. Finders’fees of $30,713 cash, and 208,600 broker warrants each exercisableinto one additional Share at $0.15 until April 16, 2023 were paidrelating to the Private Placement. The Companyintends to use the net proceeds of the Financing to advance itsPeruvian exploration and community relation programs. Proceeds willalso support commercial negotiations intended to increase ownership atits Las Huaquillas Project, and corporate working capitalpurposes.
The securities described herein have not been, and willnot be, registered under the United States Securities Act of 1933, asamended (the "U.S. Securities Act"), or any state securitieslaws, and accordingly, may not be offered or sold within the UnitedStates except in compliance with the registration requirements of theU.S. Securities Act and applicable state securities requirements orpursuant to exemptions therefrom. This press release does notconstitute an offer to sell or a solicitation to buy any securities inany jurisdiction.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. is assembling and advancing aportfolio of high-quality mining assets in Peru through theimplementation of our Strategic Project Generator (SPG) model. Theproject generator model involves the identification and acquisition ofappraisal stage opportunities with near-term valuation catalysts,including potential for high-impact M&A. The company is backed byan experienced management team with diverse technical, market, andcommercial expertise and is supported by committed and sophisticatedinvestors focused on building long term value.
On behalf of the Board of Fidelity Minerals.
Dean Pekeski
CEO, President and Director
Tel: +1.778.828.9724
Email: dean@fidelityminerals.com
For more information, please visit the corporatewebsite at http://www.fidelityminerals.com orcontact:
NEITHER THE TSXVENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM ISDEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
Copyright (c) 2021 TheNewswire - All rights reserved.