HALIFAX, NS, Jan. 7, 2021 /CNW/ - Fortune Bay Corp. (TSXV:
FOR) (Frankfurt: 5QN) ("Fortune
Bay" or the "Company") wishes to announce that it has retained the
services of Vancouver-based Mars
Investor Relations Inc. ("Mars"), a full-service investor relations
and consulting services company focused on the junior mining
sector. Under the terms of the engagement agreement
(the "Agreement"), the Company will compensate Mars $144,000 for the 12-month initial term of the
Agreement and has granted Mars stock options (the "Options")
exercisable to acquire an aggregate of 250,000 common shares at a
price of $1.16 per share until
January 7, 2026. The Options
shall vest quarterly over a period of 12 months, with 25% vesting
each quarter. In addition, Mars and or its affiliates currently
hold no shares of the Company, however Mars may from time to time
acquire or dispose of securities of the Company through the market,
privately or otherwise, as circumstances or market conditions
warrant. Mars is at arm's length to Fortune Bay and has no other
relationship with the Company, except pursuant to the
Agreement.
The Agreement and the grant of Options thereunder is subject to
regulatory approval.
About Fortune Bay
Fortune Bay Corp.
(TSXV:FOR) is a gold-focused exploration and development company
with 100% ownership in two advanced exploration gold projects in
Canada, Saskatchewan (Goldfields Project) and
Mexico, Chiapas (Ixhuatán Project), both with
exploration and development potential. The Company has a goal of
building a mid-tier gold 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 www.fortunebaycorp.com or by contacting us
as info@fortunebaycorp.com or by telephone at
902-334-1919.
On behalf of Fortune Bay Corp.
"Dale Verran"
Chief Executive Officer
902-334-1919
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.
Fortune Bay Corp. ("Fortune Bay" or the "Company") cautions that
all forward-looking statements are inherently uncertain, and that
actual performance may be affected by a number of material factors,
many of which are beyond Fortune Bay's control. Such factors
include, among other things: risks and uncertainties relating to
metal prices, changes in planned work resulting from weather,
logistical, technical or other factors, the possibility that
results of work will not fulfill expectations and realize the
perceived potential of Fortune Bay's mineral properties,
uncertainties involved in the interpretation of drilling results
and other tests, the possibility that required permits may not be
obtained in a timely manner or at all, risk of accidents, equipment
breakdowns or other unanticipated difficulties or interruptions,
the possibility of cost overruns or unanticipated expenses in work
programs, the risk of environmental contamination or damage
resulting from the exploration operations, the need to comply with
environmental and governmental regulations and the lack of
availability of necessary capital, which may not be available to
Fortune Bay, acceptable to it or at all. Fortune Bay is subject to
the specific risks inherent in the mining business as well as
general economic and business conditions. Accordingly, actual and
future events, conditions and results may differ materially from
the estimates, beliefs, intentions and expectations expressed or
implied in the forward-looking information. Except as required
under applicable securities legislation, Fortune Bay undertakes no
obligation to publicly update or revise forward-looking
information. Fortune Bay does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required under applicable securities legislation. For more
information on Fortune Bay, readers should refer to Fortune Bay's
website at www.fortunebaycorp.com.
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.
