<SEC-DOCUMENT>0001104659-24-068958.txt : 20240606
<SEC-HEADER>0001104659-24-068958.hdr.sgml : 20240606
<ACCEPTANCE-DATETIME>20240606095835
ACCESSION NUMBER:		0001104659-24-068958
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240606
FILED AS OF DATE:		20240606
DATE AS OF CHANGE:		20240606

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FORTUNA SILVER MINES INC
		CENTRAL INDEX KEY:			0001341335
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35297
		FILM NUMBER:		241024083

	BUSINESS ADDRESS:	
		STREET 1:		200 BURRARD ST
		STREET 2:		SUITE 650
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L6
		BUSINESS PHONE:		604-484-4085

	MAIL ADDRESS:	
		STREET 1:		200 BURRARD ST
		STREET 2:		SUITE 650
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3L6
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2416629d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Form&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE 13a-16 OR <BR>
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of <U>June&nbsp;2024</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number <U>001-35297</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Fortuna Silver Mines Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant&rsquo;s name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>200 Burrard Street, Suite&nbsp;650, Vancouver,
British Columbia, Canada V6C 3L6</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive office)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will file annual
reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: right; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FORM&nbsp;20-F &nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
  <TD STYLE="width: 15%">&nbsp;</TD>
  <TD STYLE="width: 45%">FORM&nbsp;40-F &nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-T
Rule&nbsp;101(b)(1): &nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S-T
Rule&nbsp;101(b)(7): &nbsp;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp; &nbsp; &nbsp;</TD>
    <TD COLSPAN="2"><B>Fortuna Silver Mines Inc.</B> (Registrant) &nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Date: &nbsp;June&nbsp;6, 2024</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 46%">/s/ &nbsp;&quot;<I>Jorge Ganoza Durant</I>&quot;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">Jorge Ganoza Durant</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in">President and CEO</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Exhibits:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 0.25in; width: 10%"><A HREF="tm2416629d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><B>99.1</B></A></TD>
  <TD STYLE="width: 90%"><A HREF="tm2416629d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><B>News release dated June&nbsp;5, 2024</B></A></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2416629d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: left; width: 50%"><IMG SRC="tm2416629d1_ex99-1img001.jpg" ALT="" STYLE="height: 61px; width: 200px">&nbsp;</TD>
  <TD STYLE="font-size: 10pt; vertical-align: middle; text-align: right; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: rgb(31,72,124)"><B>NEWS
  RELEASE</B></FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin: 0pt 0.95pt 0pt 0; text-align: center; color: #365f91"><B>Fortuna Announces
Pricing of Convertible Senior Notes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Vancouver, June&nbsp;5,
2024 &ndash; Fortuna Silver Mines Inc. (TSX: FVI) (NYSE: FSM) </B></FONT>(&ldquo;Fortuna&rdquo; or the &ldquo;Company&rdquo;) announces
that it has priced its previously announced offering of convertible senior notes due 2029 (the &ldquo;Notes&rdquo;) in an aggregate principal
amount of US$150 million (the &ldquo;Offering&rdquo;). The Company has granted the initial purchasers of the Notes an option for a period
of 15 days to purchase up to an additional US$22.5 million aggregate principal amount of Notes. The Notes will be issued at par value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Notes will bear cash interest semi-annually
at a rate of 3.75% per annum. The initial conversion rate for the Notes will be 151.7220 common shares of Fortuna (&ldquo;Shares&rdquo;)
per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$6.59 per Share. The initial conversion
rate represents a premium of approximately 30% relative to today&rsquo;s closing sale price of the Shares and is subject to adjustment
in certain events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fortuna will have the right to redeem the Notes
in certain circumstances and holders will have the right to require Fortuna to repurchase their Notes upon the occurrence of certain
events.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Offering is expected to close, subject to
customary closing conditions, on or about June&nbsp;10, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company intends to use the net proceeds from
the Offering to repay bank indebtedness, to fund working capital requirements, for general corporate purposes and to fund the repayment
of its existing 4.65% senior subordinated unsecured convertible debentures, to the extent that such debentures are not converted into
shares prior to the redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Immediately prior to the closing of the Offering,
the Company intends to issue a notice of redemption in respect of the existing debentures. Holders of the existing debentures may choose
to convert their debentures prior to the redemption date or receive a cash payment from the debenture trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Notes and the Shares issuable upon the conversion
thereof have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
or qualified by a prospectus in Canada. The Notes and the Shares may not be offered or sold in the United States absent registration
under the Securities Act or an applicable exemption from registration under the Securities Act. The Notes will be offered only to &ldquo;qualified
institutional buyers&rdquo; (as defined in Rule&nbsp;144A under the Securities Act) and outside the United States to non-U.S. persons
in compliance with Regulation S under the Securities Act. Offers and sales in Canada will be made only pursuant to exemptions from the
prospectus requirements of applicable Canadian provincial securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This news release is neither an offer to sell
nor the solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or solicitation of
an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --> -</FONT></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify; color: #365f91"><B>About Fortuna
Silver Mines Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Fortuna Silver Mines Inc. is a Canadian precious
metals mining company with five operating mines in Argentina, Burkina Faso, C&ocirc;te d&rsquo;Ivoire, Mexico, and Peru. Sustainability
is integral to all our operations and relationships. We produce gold and silver and generate shared value over the long-term for our
stakeholders through efficient production, environmental protection, and social responsibility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ON BEHALF OF THE BOARD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Jorge A. Ganoza</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">President, CEO, and Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fortuna Silver Mines Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left; color: #365f91"><B>Investor Relations:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B>Carlos Baca </B></FONT>| <U>info@fortunasilver.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I><U>Forward-looking Statements</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This news release contains forward-looking
statements which constitute &ldquo;forward-looking information&rdquo; within the meaning of applicable Canadian securities legislation
and &ldquo;forward-looking statements&rdquo; within the meaning of the &ldquo;safe harbor&rdquo; provisions of the Private Securities
Litigation Reform Act of 1995 (collectively, &ldquo;Forward-looking Statements&rdquo;). All statements included herein, other than statements
of historical fact, are Forward-looking Statements and are subject to a variety of known and unknown risks and uncertainties which could
cause actual events or results to differ materially from those reflected in the Forward-looking Statements. The Forward-looking Statements
in this news release include, without limitation, statements relating to the Offering, the option to purchase additional Notes, if any,
anticipated timing for closing of the Offering, the anticipated redemption of the Debentures and the anticipated use of proceeds. These
Forward-looking Statements are based on certain assumptions that Fortuna has made in respect thereof as at the date of this news release.
Often, but not always, these Forward-looking Statements can be identified by the use of words such as &ldquo;estimated&rdquo;, &ldquo;potential&rdquo;,
 &ldquo;open&rdquo;, &ldquo;future&rdquo;, &ldquo;assumed&rdquo;, &ldquo;projected&rdquo;, &ldquo;used&rdquo;, &ldquo;detailed&rdquo;,
 &ldquo;has been&rdquo;, &ldquo;gain&rdquo;, &ldquo;planned&rdquo;, &ldquo;reflecting&rdquo;, &ldquo;will&rdquo;, &ldquo;anticipated&rdquo;,
 &ldquo;estimated&rdquo; &ldquo;containing&rdquo;, &ldquo;remaining&rdquo;, &ldquo;to be&rdquo;, or statements that events, &ldquo;could&rdquo;
or &ldquo;should&rdquo; occur or be achieved and similar expressions, including negative variations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Forward-looking Statements involve known and
unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Fortuna to be materially
different from any results, performance or achievements expressed or implied by the Forward-looking Statements. Such uncertainties and
factors include, without limitation, risks relating to the need to satisfy the conditions set forth in the purchase agreement for the
Notes; the need to satisfy regulatory and legal requirements with respect to the Offering; as well as those factors discussed under &ldquo;Risk
Factors&rdquo; in Fortuna&rsquo;s Annual Information Form&nbsp;for the fiscal year ended December&nbsp;31, 2023, a copy of which can
be found on the Company&rsquo;s profile on the SEDAR+ website at www.sedarplus.ca and on EDGAR at www.sec.gov/edgar. Although Fortuna
has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described
in Forward-looking Statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated
or intended.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Forward-looking Statements contained herein
are based on the assumptions, beliefs, expectations and opinions of management and such other assumptions as set out herein. Forward-looking
Statements are made as of the date hereof and Fortuna disclaims any obligation to update any Forward-looking Statements, whether as a
result of new information, future events or results or otherwise, except as required by law. There can be no assurance that these Forward-looking
Statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, investors should not place undue reliance on Forward-looking Statements.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>tm2416629d1_ex99-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm2416629d1_ex99-1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0@)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !B 4,# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#W^BBB@ HI
M&944LQ 4#))/ %<)K?C*>\F:TT-]L"@B2\ !+'H/+SD8_P!H_AZT =5JVO:?
MHR9NYOWI4LD$8W2.!Z#^IP/>N?3QZ)2NW2Y$+=%EF ;'_ 01G\:XN..VMG97
MF+W<OWI)9"[$^['D_C4\J7-K:M(FUI<=7!P/8 #Z4[".]MO&-C*Y2Y@GMB.A
M(#JWTVDG\P*NIXFT1Y1$=4MHI3TCF?RV/_ 6P:\PTYHKR\MTG:0O)*T<Z[@K
M1$#DXQC'3K[5J7EN@7[.<3J/X&7<%&2,X[46 ]0!R,CI17D:*^D7,4UK-+:$
M,1M@DV*?7Y/NM^(KJ-+\:/%+Y.L;#&2-EU$N, _WTYQ]02/7%%AG:44V.1)H
MUDC=71AE64Y!'J#3J0!1110 4444 %%%% !1110 4444 %%%% !1110 4444
M %%%% !1110 4444 %%%% !1110 4444 %%%% !115#6M8M=!TJ;4+PMY4>
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MD4,<"!(T"@>E/HHI %%%% !1110 4444 %%%% !1110 4444 %%%% !1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
8% !1110 4444 %%%% !1110 4444 ?_9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
