Forent Expands Previously Announced Equity Plans
CALGARY, ALBERTA (June 25, 2015) – Forent Energy Ltd. (TSXV:FEN)(“Forent” or the “Company”) is pleased to announce it is increasing the size of its previously announced equity offerings, being the acquisition of an Alberta-based private resource company and a concurrent non-brokered private placement, from a contemplated aggregate of $2.0 million to an aggregate of up to $2.5 million at 40 cents per share on a post-consolidation basis. The Company will complete a 20:1 consolidation of its common shares prior to the closing which is anticipated to be on or about June 29, 2015, and is subject to TSX Venture Exchange and regulatory approval. The shares issued pursuant to the private placement will have a hold period of four months and one day from the date of issuance.
Net proceeds from the private placement will be used to strengthen Forent’s balance sheet and for general corporate purposes.
Shares of Forent trade on the TSX Venture Exchange under the symbol “FEN”.
FOR FURTHER INFORMATION, PLEASE CONTACT:
FORENT ENERGY LTD.
Richard Wade, President & CEO
– or –
Email: [email protected]
Phone: (403) 262-9444 #211
Brad R. Perry, CFO
(403) 262-9444 #208