On February 24, 2021 Fortress Technologies Inc. (“Fortress” or the “Company”) announced that it had entered into an agreement with Canaccord Genuity Corp. (the “Underwriter”), acting as lead underwriter and sole bookrunner, which has agreed to purchase, on a bought deal private placement basis, 12,000,000 units of the Company (the “Units”) at a price of C$0.63 per Unit (the “Unit Price”), for aggregate gross proceeds of C$7.6 million (the “Offering”).

The net proceeds of the Offering are expected to be used for the expansion of the Company’s crypto-mining operations, growth related opportunities and general corporate purposes. It is expected that the Units will be offered to “accredited investors” in all of the provinces of Canada (other than the Province of Quebec) pursuant to National Instrument 45-106 – Prospectus Exempt Distributions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended. The Units will be subject to a four-month hold period in Canada.

Fortress Technologies Inc. (TSX-V: FORT) is a well-capitalized company operating a crypto-mining business and is currently evaluating emerging opportunities in technology sectors. Fortress is focused on developing projects where access to growth capital is highly valued.

Peterson McVicar LLP acted for Fortress Technologies Inc. with a team that included Dennis Peterson, Peter Georgas and Jude Gee.