Post by Franko10 ™ on Mar 15, 2005 8:32:34 GMT -5
Forest Gate Resources to hold Special Shareholders Meeting; Subsidiary Blue Note Metals Granted Extension to Close on Caribou Acquisition (cnw)
SHARES OUTSTANDING: 30 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, March 15 /CNW/ - Forest Gate Resources Inc. ("Forest Gate" or the "Company") announced today that it has filed with the TSX Venture Exchange a Notice for the Annual General Meeting and a Special Meeting of shareholders to be held on May 16, 2005. Details of the meeting will be included in the Notice being mailed to Forest Gate shareholders.
The primary purpose of the meeting is to obtain shareholder approval for the proposed corporate reorganization involving the transfer of the Company's New Brunswick metals properties to Blue Note Metals Inc., its wholly owned subsidiary. Further information on the corporate reorganization is available from the Company's previous press release issued March 2, 2005.
In other news the Company reports that its wholly owned subsidiary Blue Note Metals Inc. has received an extension to close its acquisition of the Caribou and Restigouche Mines from Breakwater Resources Ltd. The new closing date is anticipated to be March 31, 2005.
The Company also announces that pursuant to its Stock Option Plan, it has reserved for issuance an additional three million incentive stock options to management, directors, key employees and consultants at an exercise price of $0.33 per option and having a five-year expiration, with all options subject to TSX Venture Exchange rules and regulations.
About Forest Gate Resources
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: please contact: Robert Kramberger, Investor Relations, Forest Gate Resources Inc., (866) 666-3040, rkramberger(at)forestgate.ca, http://www.forestgate.ca; OR Trevor Burns, President, Tiger Capital Corporation, Toronto, Ontario, (416) 252-3663, investor(at)tigercapital.com/
SHARES OUTSTANDING: 30 MILLION
SYMBOL & EXCHANGE: FGT-V
MONTREAL, March 15 /CNW/ - Forest Gate Resources Inc. ("Forest Gate" or the "Company") announced today that it has filed with the TSX Venture Exchange a Notice for the Annual General Meeting and a Special Meeting of shareholders to be held on May 16, 2005. Details of the meeting will be included in the Notice being mailed to Forest Gate shareholders.
The primary purpose of the meeting is to obtain shareholder approval for the proposed corporate reorganization involving the transfer of the Company's New Brunswick metals properties to Blue Note Metals Inc., its wholly owned subsidiary. Further information on the corporate reorganization is available from the Company's previous press release issued March 2, 2005.
In other news the Company reports that its wholly owned subsidiary Blue Note Metals Inc. has received an extension to close its acquisition of the Caribou and Restigouche Mines from Breakwater Resources Ltd. The new closing date is anticipated to be March 31, 2005.
The Company also announces that pursuant to its Stock Option Plan, it has reserved for issuance an additional three million incentive stock options to management, directors, key employees and consultants at an exercise price of $0.33 per option and having a five-year expiration, with all options subject to TSX Venture Exchange rules and regulations.
About Forest Gate Resources
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: please contact: Robert Kramberger, Investor Relations, Forest Gate Resources Inc., (866) 666-3040, rkramberger(at)forestgate.ca, http://www.forestgate.ca; OR Trevor Burns, President, Tiger Capital Corporation, Toronto, Ontario, (416) 252-3663, investor(at)tigercapital.com/