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  • Fortress Technologies (FORT) has closed a C$9.3 million bought deal private placement
  • The company sold 14,794,700 units at C$0.63 per unit
  • Each unit is composed of one Fortress common share and one common share purchase warrant
  • Each warrant is exercisable to acquire one common share for C$0.82 at any time within 60 months of closing
  • The company intends to use the proceeds to expand its crypto mining operations
  • Fortress Technologies operates a crypto mining business
  • Fortress Technologies (FORT) is trading flat at C$0.65 per share

Fortress Technologies (FORT) has closed a C$9.3 million bought deal private placement.

The company sold 14,794,700 units at C$0.63 per unit.

Each unit is composed of one common share and one common share purchase warrant.

Each warrant is exercisable to acquire one Fortress common share for C$0.82 at any time within 60 months of closing.

Fortress intends to use the proceeds to expand its crypto mining operations, explore growth-related opportunities and for general corporate purposes.

Canaccord Genuity acted as lead underwriter and sole bookrunner.

Fortress Technologies operates a crypto mining business and is currently evaluating emerging opportunities in the technology sector.

Fortress Technologies (FORT) is trading flat at C$0.65 per share as of 2:54 pm ET.

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