Forent closed on gross proceeds of
The proceeds from the private placements will be used to fund crude oil development expenditures, which will qualify as renounceable exploration expenses, on the central
Forent has approximately 187,318,215 common shares issued and outstanding which trade on the
ADVISORY: Certain information in this news release, including the anticipated closing of the Private Placement, the use of the proceeds to incur Canadian Exploration Expenses, and the drilling of wells at the Company's Wayne, Twinning and Montgomery properties, constitute forward-looking statements under applicable securities laws. Although Forent believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Forent can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The closing of the Private Placement could be delayed if Forent is not able to obtain the necessary stock exchange approval on the timeline it has planned. The Private Placement will not be completed at all if this approval is not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Private Placement will not be completed within the anticipated time or at all. The forward-looking statements contained in this news release are made as at the date of this news release and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Keywords for this news article include: Energy, Utilities.
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