03:59 PM EST, 12/23/2024 (MT Newswires) -- Fortune Minerals ( FTMDF ) was set to closed slightly higher Monday amid news that it has drawn an additional nearly C$1.75 million from its funding agreement with Lind Global Fund II.

The funds will be used for working capital and to pre-fund government-supported work on the NICO project, the company added.

The second convertible security has a two-year term, a face value of nearly C$1.9 million, and is secured by the company's assets. Lind will also receive a C$60,000 fee and 16,338,174 warrants to buy shares at $0.0609 each for five years.

Price: 0.05, Change: +0.01, Percent Change: +11.11