Fortune Bay Corp. (TSXV:FOR) announced a private placement of 1,875,000 units at a price of CAD 0.40 per unit for gross proceeds of CAD 750,000 on January 22, 2018. The transaction will be led by Numus Financial. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into on common share at an exercise price of CAD 0.60 per share for a period of 3 years. The company will pay finders fees of 7.5% of the gross proceeds of the units sold and warrants equal to 7.5% of the units sold. The transaction is subject to the approval of TSX Venture exchange. The securities issued are subject to a four month hold period.