Fortune Bay Corp. (“Fortune Bay”) was formed through a series of public transactions that have been spearheaded by Fortune Bay’s Chief Executive Officer, Wade Dawe. Linear Resources Inc. was formed pursuant to articles of amendment dated October 6, 1999, and Mr. Dawe was appointed to its Board of Directors. In 2003, Mr. Dawe assumed the role of President and CEO, and the company then changed its name to Linear Gold Corp. (“Linear Gold” or 'Linear') and focused on gold exploration in the Americas. Later in 2003, Linear raised initial equity financing of CDN$7.3 million and subsequently acquired a number of gold assets in Central America from Switzerland based Xstrata PLC. As part of the transaction with Xstrata, the Ixhuatán property, located in Chiapas, Mexico, was acquired. Exploration activity at the Ixhuatán property from 2004 to 2007 by Linear resulted in a significant +1.7 million ounce gold discovery. From 2003 through 2009, Linear Gold raised in excess of CDN$75 million from the capital markets to fund its exploration activities.
On August 20, 2009, Linear, through a wholly owned subsidiary, purchased the Goldfields Property for US$5,000,000 in cash, the assumption of certain liabilities and the issuance of 727,272 common shares of Linear. The Goldfields property hosts a +1.0 million ounce gold deposit.
On June 25, 2010, Linear amalgamated with Apollo Gold Corporation to form a new company Brigus Gold Corp. (“Brigus”), and Wade Dawe was appointed Chief Executive Officer. Post-merger Brigus operated the Black Fox gold mine in Ontario, Canada, while advancing its gold deposits in Mexico and Saskatchewan, Canada. The company employed approximately 400 people and traded on both the Toronto Stock Exchange and the New York Stock Exchange.
On March 5, 2014, Primero Mining Corp (“Primero”) acquired all of the issued and outstanding shares of Brigus by way of a court approved plan of arrangement for an enterprise value of CDN$351 million. Pursuant to the arrangement, Primero acquired Brigus’ Black Fox mine and surrounding properties in Ontario, Canada. In addition to the acquisition by Primero, the transaction involved Brigus spinning out certain assets to form a new TSX listed company, Fortune Bay Corp. Assets spun out to Fortune Bay included the Goldfields Project in Saskatchewan, Canada, the Ixhuatán Project in Chiapas, Mexico, and several properties in the Dominican Republic, along with cash of CDN$10 million. The properties located in the Dominican Republic were subsequently sold by Fortune Bay on March 19, 2014.
On June 27, 2016, Fortune Bay Corp. completed a transaction pursuant to which it acquired 100% of the issued and outstanding shares of Ireland based software developer Kneat Solutions Limited. The corporation subsequently changed its name to 'kneat.com, inc.' and listed on the TSX-V with the trading symbol KSI. As part of the transaction, Fortune Bay Corp. spun-out its gold resource properties by way of a court-approved plan of arrangement in Ontario; and formed a new gold-focused corporation to hold the Goldfields project and the Ixhuatán project which changed it’s name to ‘Fortune Bay Corp.’ The new Fortune Bay Corp., second company to have this name, currently trades on the TSX-V with the symbol FOR.