Development stage mining company Fortune Minerals has completed a fully subscribed $1.25-million nonbrokered private placement of units, with the proceeds allocated to general working capital purposes. Fortune owns the Nico cobalt-gold-bismuth-copper development project, which is expected to become a Canadian vertically integrated producer of battery-grade cobalt chemicals for the lithium-ion battery industry, with gold and bismuth coproducts, and minor by-product copper.
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