Post by Zoinkers on Aug 12, 2006 23:42:11 GMT -5
Press Release Source: Forest Gate Resources Inc.
Forest Gate Closes Additional $120,000 Flow-Through Financing
Wednesday August 2, 12:07 pm ET
Shares outstanding: 78 million SYMBOL & EXCHANGE: FGT-V
MONTREAL, Aug. 2 /CNW/ - Forest Gate Resources Inc. is pleased to announce that it has successfully closed an additional non-brokered, flow-through private placement for gross proceeds of $120,000.
The company raised $120,000 by issuing 387,096 flow-through shares at $0.31 per share.
Forest Gate previously raised $1,632,975 (July 5, 2006) in flow-through shares at $0.305 per share. This third flow-through financing brings the total raised in this financial quarter to $1,752,975.
The company has agreed to pay certain finder's fees in accordance with the policies of the TSX Venture Exchange.
The flow-through shares have a mandatory hold-period expiring November 27, 2006.
The proceeds of the flow-through financing will be used to further develop the company's Canadian diamond exploration projects.
Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and Quebec. The company's shares trade under the symbols 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 does not accept responsibility for the
adequacy or accuracy of this news release.
For further information
Robert Kramberger, V-P, Investor Relations, Forest Gate Resources Inc., (866) 666-3040, rkramberger@forestgate.ca, www.forestgate.ca
Trevor Burns, President, Tiger Capital Corporation, Toronto, Ontario, (416) 252-3663, investor@tigercapital.com
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Source: Forest Gate Resources Inc.
Forest Gate Closes Additional $120,000 Flow-Through Financing
Wednesday August 2, 12:07 pm ET
Shares outstanding: 78 million SYMBOL & EXCHANGE: FGT-V
MONTREAL, Aug. 2 /CNW/ - Forest Gate Resources Inc. is pleased to announce that it has successfully closed an additional non-brokered, flow-through private placement for gross proceeds of $120,000.
The company raised $120,000 by issuing 387,096 flow-through shares at $0.31 per share.
Forest Gate previously raised $1,632,975 (July 5, 2006) in flow-through shares at $0.305 per share. This third flow-through financing brings the total raised in this financial quarter to $1,752,975.
The company has agreed to pay certain finder's fees in accordance with the policies of the TSX Venture Exchange.
The flow-through shares have a mandatory hold-period expiring November 27, 2006.
The proceeds of the flow-through financing will be used to further develop the company's Canadian diamond exploration projects.
Forest Gate is a publicly traded mineral exploration company with diamond properties in Saskatchewan and Quebec. The company's shares trade under the symbols 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 does not accept responsibility for the
adequacy or accuracy of this news release.
For further information
Robert Kramberger, V-P, Investor Relations, Forest Gate Resources Inc., (866) 666-3040, rkramberger@forestgate.ca, www.forestgate.ca
Trevor Burns, President, Tiger Capital Corporation, Toronto, Ontario, (416) 252-3663, investor@tigercapital.com
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Source: Forest Gate Resources Inc.