Forte Minerals Corp. has received aggregate gross proceeds of C$1,473,054.00 through the exercise of 4,910,180 common share purchase warrants at an exercise price of C$0.30 per share, the company announced on June 29, 2026. The warrants were originally issued in connection with the company’s 2024 financing and expired on June 26, 2026.
Capital Structure Streamlined
The full exercise of these warrants reflects continued support from Forte’s shareholder base and has streamlined the company’s capital structure into a single-tier profile at C$0.60. The company’s remaining warrant profile now consists of 3,430,550 warrants (comprising 3,212,550 standard warrants and 218,050 broker warrants), each exercisable at C$0.60 per share with an expiry date of June 13, 2027.
Patrick Elliott, President and Chief Executive Officer of Forte Minerals, commented: “The full exercise of these warrants reflects strong, continuing alignment with our shareholder base and provides Forte with a significant injection of cash. This milestone simultaneously strengthens our treasury and streamlines our capital structure into a much cleaner, single-tier profile at C$0.60. With multiple exploration catalysts ahead in Peru, this capital ensures we are fully funded to aggressively advance our high-priority copper and gold projects.”
Use of Proceeds
The company intends to use the net proceeds from these exercises to aggressively advance exploration and permitting activities across its portfolio of copper and gold projects in Peru, and for general working capital purposes.
Shareholder Distribution and Tight Float
While this exercise transitions the previous warrant tier into common shares, Forte’s capital structure remains exceptionally tight and highly concentrated among long-term stakeholders. The majority of Forte’s total shares outstanding are held by strategic investors, partners, insiders, and institutional holders, leaving a tightly restricted public float of 24%.
The shareholder distribution is structured as follows, with percentages shown on an approximate and rounded basis:
- Management & Insiders: Encompassing 20% of the company, ensuring absolute alignment with retail shareholders.
- Strategic Partners: Anchored by two core strategic investors holding nearly 17% total and the strategic exploration partner, Globetrotter Resource Group, at 8%.
- Institutional & Long-Term Investors: Institutional backers account for approximately 6%, alongside a committed, non-retail baseline of long-term investors representing 25% of the structure.
With a clean capital structure and a significant cash injection, Forte Minerals is positioned to advance its exploration activities in Peru, targeting copper and gold projects.
