LAS VEGAS, NV–(Marketwired – May 23, 2017) – Fortem Resources Inc. (OTCQB: FTMR) (“Fortem” or the “Company”) is pleased to announce that on May 17, 2017, it acquired 100% of the membership interest in City of Gold, LLC, a Nevada limited liability company, from two Nevada limited liability companies — MAB Resources Holdings LLC and JM Magna Holdings LLC (each a “Transferor”), pursuant to a Membership Interest Purchase Agreement dated as of May 17, 2017. The Membership Interest Purchase Agreement provides for a total purchase price consisting of an aggregate of 30,000,000 common shares in the capital of the Company at a deemed price of $2.00 per share (the “Purchase Shares”). 15,000,000 of the Purchase Shares were issued at closing (7,500,000 to each Transferor); the other 15,000,000 Purchase Shares are to be issued within ten Business Days after City of Gold, LLC earns the Option described below.
