FORTUNE BAY CORP. ("FOR")
BULLETIN TYPE: New Listing-Shares
BULLETIN DATE: July 4, 2016
TSX Venture Tier 2 Company
Effective at the opening, Tuesday, July 5, 2016, the common shares of the Company will commence trading on the TSX Venture Exchange.
kneat.com, inc. (formerly, Fortune Bay Corp.) ("kneat.com") (TSX:FOR) (the "Company") completed its previously announced transaction that resulted in two new TSX Venture issuers:
1. The Company spun-out its resource properties by way of a court-approved plan of arrangement in Ontario to Fortune Bay Corp. (formerly, 9617337 Canada Limited) ("Fortune Bay"); and
2. Acquired 100% of Kneat Solutions Limited by way of scheme of arrangement in Ireland.
kneat.com's shareholders received one (1) new common share of kneat.com and one and one-half (1.5) new common shares of the spun-out company, Fortune Bay, in exchange for three (3) common shares of kneat.com currently held.
kneat.com's common share purchase warrant holders received one (1) new common share purchase warrant of kneat.com (resulting in 267,857 kneat.com common share purchase warrants at an exercise price of $0.90) and one and one-half (1.5) common share purchase warrants of the spun-out company, Fortune Bay (resulting in 401,786 new common share purchase warrants Fortune Bay exercisable at $0.60) in exchange for three (3) common share purchase warrants of kneat.com currently held.
kneat.com's issued and outstanding stock options were consolidated on a three to one basis (3:1), resulting in a total of 666,667 kneat.com stock options outstanding at an average exercise price of $0.90.
The resulting issuer is classified as a "Gold Ore Mining" issuer (NAICS Number: 212221).
For further information, please refer to the Management Information Circular of kneat.com dated May 13, 2016 available on SEDAR, the Listing Application dated May 13, 2016 available on SEDAR and kneat.com's June 28th, 2016 press release announcing the closing of the transactions.
Corporate Jurisdiction: Ontario
Capitalization: Unlimited common shares with no par value of which
18,578,200 common shares are issued and outstanding
Escrowed Securities: 0 common shares
Transfer Agent: Computershare Investor Services
Trading Symbol: FOR
CUSIP Number: 34964F109
For further information, please consult the Company's profile at www.sedar.com.
Company Contact: Sarah Oliver, CFO
Company Address: 2001-1969 Upper Water Street, Halifax, NS, B3J 3R7
Company Phone Number: 902-442-7185
Company Email Address: info@fortunebaycorp.com
Company Website: www.fortunebaycorp.com
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