Forte Copper files for CSE IPO to raise up to $4M

Photo of author

By CPE News

CPE News (7/31/2021) – Forte Copper Corp. has filed a preliminary prospectus in connection with a proposed initial public (IPO) offering of units.

Forte Copper Corp. intends to issue up to 13,333,333 units at $0.30 per unit for gross proceeds of up to $4,000,000 with a minimum offering $2,500,000 (8,333,333 units).

Forte Copper Corp. has applied to conditionally list the shares forming part of the units on the Canadian Securities Exchange (CSE).

Haywood Securities Inc. acts as sole underwriter for the offering. In connection with the offering, S. Paul Simpson Law Corporation and Getz Prince Wells LLP acts as legal counsel to Forte Copper and the underwriter respectively.

Vancouver based Forte Copper Corp. is a mineral exploration company involved in the identification, acquisition and exploration of mineral properties located in Peru. The company is exploring for gold and copper. The company holds three mineral properties in Peru, of which the Pucarini Project is its only material property for the purposes of NI 43-101.

Forte Copper has three subsidiaries, being Forte Cobre S.A.C., Amaru Resources S.A.C. and Cordillera Resources Peru S.A.C.., each incorporated under the laws of the Republic of Peru and in which Forte Copper holds 99% of the outstanding shares.

Forte Copper acquired 99% of the shares of Amaru and Cordillera, which hold the Esperanza Project and the Pucarini Project, respectively, from GlobeTrotters Resource Group Inc. for $750,000, of which $150,000 was paid in cash and the balance of which was paid by the issuance of 5,000,000 Shares. GlobeTrotters, through its subsidiary GlobeTrotters
Resources Peru S.A.C., retained a 1% net smelter royalty on each of the Esperanza Project and the Pucarini Project.

GlobeTrotters Resource Group Inc. is a private project generative exploration company focused on base and precious metal exploration in Peru and other parts of South America. GlobeTrotters Resource is the only entity that holds over 10% of stakes in Forte Copper Corp. (18.43%), will continue to hold 12.34% stake after giving effect to the maximum offering.

photo credit: Forte Copper, GlobeTrotters