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HALIFAX , April 2, 2014 /CNW/ - Wade Dawe (the "Offeror") announces that
he has acquired ownership and control over 1,428,572 units (the "Units)
of Fortune Bay Corp. (FOR.TO) ("Fortune Bay") at an issue price of
$0.28 per Unit, with each unit comprised of a common share (a "Common
Share") of Fortune Bay and one-half of a common share purchase warrant
of Fortune Bay (each whole warrant, a "Warrant"), each Warrant
exercisable into a Common Share at an exercise price of $0.30 per share
for a period of three years. The acquisition of the Units by Mr. Dawe
represents 5.1% and 7.5% of the issued and outstanding Common Shares of
Fortune Bay on a non-diluted and partially-diluted basis (assuming
exercise of Warrants held by Mr. Dawe), respectively.
Following the acquisition, Mr. Dawe is deemed to exercise direction and
control over 2,630,003 Common Shares and 714,286 Warrants, which
represents approximately 9.4% and 11.7% of the issued and outstanding
Common Shares on a non-diluted and partially-diluted basis (assuming
exercise of Warrants held by Mr. Dawe), respectively.
Mr. Dawe effected the transaction for investment purposes. Mr. Dawe may,
depending on market and other conditions, increase or decrease his
beneficial ownership, control or direction over the Common Shares,
through market transactions, private agreements, treasury issuances,
exercise of convertible securities or otherwise.
This news release is issued pursuant to National Instrument 62-103: The
Early Warning System. A copy of the Early Warning Report will appear
with Fortune Bay's documents on the SEDAR website at www.sedar.com.
SOURCE Wade Dawe
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Franc-Or Resources Corp
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CODE : FOR.TO |
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Franc-Or is a gold exploration company based in Canada. Franc-Or holds various exploration projects in French Guyana and in Russia. Its main assets in production are HAUTE-MANA PROJECT and ST-PIERRE in French Guyana and its main exploration properties are BUFFALO MOUNTAIN, FITTING and GOOSE CREEK in French Guyana. Franc-Or is listed in Canada and in United States of America. Its market capitalisation is CA$ 11.4 millions as of today (US$ 8.8 millions, € 7.9 millions). Its stock quote reached its highest recent level on December 31, 1998 at CA$ 0.58, and its lowest recent point on December 24, 2008 at CA$ 0.02. Franc-Or has 35 494 045 shares outstanding. |