HALIFAX, NS, Dec. 18, 2023 /CNW/ – Fortune Bay Corp. (TSXV: FOR ) (FWB: 5QN) (OTCQX: FTBYF) ("Fortune Bay" or the "Company") is pleased to announce that it has entered into a definitive option agreement (the "Agreement"), dated December 15, 2023, with 1443904 B.C. Ltd. (the "Optionee"), an arms-length private company. Pursuant to the Agreement, the Optionee will be granted the right to acquire up to a 70% interest in the Company’s wholly owned Murmac and Strike Uranium Projects (the "Projects") over a three-and-a-half-year period by funding C$6 million in exploration expenditures, making cash payments totalling C$1.35 million, and issuing C$2.15 million in common shares following completion of a going public transaction. Figure 1: Location of the Murmac and Strike Uranium Projects. (CNW Group/Fortune Bay Corp.) The Projects include mineral claims totalling 19,877 hectares located along the northwestern margin of the Athabasca Basin, near Uranium City, Saskatchewan, in the […]
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