Owner
Post by Franko10 ™ on Oct 1, 2004 18:45:00 GMT -5
SHARES OUTSTANDING: 25 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Oct. 1 /CNW/ - Forest Gate Resources Inc. has amended the terms of the private placement it announced on September 4, 2004, following the engagement of Canaccord Capital Corporation, Vancouver, as agent.
In addition to the previously announced compensation relating to the issuance of 1,400,000 flow-through units, Canaccord shall also be paid a corporate finance fee of 40,000 non-flow-through agent's units. Each agent's unit will consist of one share and one warrant, with a warrant to purchase one additional share for a period of two years from the date of closing at $0.18 per share.
In other news, Forest Gate announces it has retained Tiger Capital Corporation, Toronto, to execute a corporate marketing program consisting of web-based marketing, public relations and investor relations activities. The contract with Tiger Capital is for a period of approximately two months with a renewal option. Tiger Capital will receive $10,000 in cash for the project and 50,000 share options of Forest Gate at a price of $0.17 per share.
Also, Forest Gate is expecting that Vice-President Exploration, Pieter Du Plessis, currently residing in Botswana, Africa, will assume his executive duties with the company by the end of October.
Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and precious and base metal properties in New Brunswick. The company's shares and warrants trade under the symbol FGT on the TSX Venture Exchange.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.
/For further information: CONTACT: MICHAEL JUDSON, PRESIDENT & CEO, TOLL FREE: 866-666-3040, mjudson(at)forestgate.ca, www.forestgate.ca/
SYMBOL & EXCHANGE: FGT-V
MONTREAL, Oct. 1 /CNW/ - Forest Gate Resources Inc. has amended the terms of the private placement it announced on September 4, 2004, following the engagement of Canaccord Capital Corporation, Vancouver, as agent.
In addition to the previously announced compensation relating to the issuance of 1,400,000 flow-through units, Canaccord shall also be paid a corporate finance fee of 40,000 non-flow-through agent's units. Each agent's unit will consist of one share and one warrant, with a warrant to purchase one additional share for a period of two years from the date of closing at $0.18 per share.
In other news, Forest Gate announces it has retained Tiger Capital Corporation, Toronto, to execute a corporate marketing program consisting of web-based marketing, public relations and investor relations activities. The contract with Tiger Capital is for a period of approximately two months with a renewal option. Tiger Capital will receive $10,000 in cash for the project and 50,000 share options of Forest Gate at a price of $0.17 per share.
Also, Forest Gate is expecting that Vice-President Exploration, Pieter Du Plessis, currently residing in Botswana, Africa, will assume his executive duties with the company by the end of October.
Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and precious and base metal properties in New Brunswick. The company's shares and warrants trade under the symbol FGT on the TSX Venture Exchange.
Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this news release.
/For further information: CONTACT: MICHAEL JUDSON, PRESIDENT & CEO, TOLL FREE: 866-666-3040, mjudson(at)forestgate.ca, www.forestgate.ca/
