CALGARY, ALBERTA–(Marketwired – July 8, 2015) – Forent Energy Ltd. (TSX VENTURE:FEN) (“Forent” or the “Company”) today reports that, since March 18, 2013, Mr. W. Brett Wilson has acquired, directly or indirectly, additional shares exceeding 2% of the outstanding common shares of Forent. This 2% reporting threshold was reached on June 30, 2015 with the acquisition of 1,047,500 common shares of Forent. The shares were purchased at a purchase price of $0.40 per share by private placement for investment purposes. Mr. Wilson may in the future acquire additional shares in the Company, if deemed appropriate to do so in his sole discretion.
Following the acquisition, Mr. Wilson owns directly or indirectly and exercises control over 2,469,596 common shares of Forent, representing approximately 16.5% of the Company’s issued and outstanding common shares. Mr. Wilson also holds options entitling him to purchase an aggregate of 50,000 common shares of Forent upon exercise of the options, bringing his total ownership to 2,519,596 common shares or approximately 16.8% of Forent’s issued and outstanding common shares on a partially diluted basis.
Mr. Wilson is also a trustee of a family trust, which he does not control or direct, which owns 1,488,238 shares, none of which Mr. Wilson is a beneficial owner.
In addition, the Company also reports that Mr. Robyn Lore has acquired, directly or indirectly, 1,600,500 common shares of Forent. The shares were purchased at a purchase price of $0.40 per share by private placement for investment purposes. Mr. Lore may in the future acquire additional shares in the Company, if deemed appropriate to do so in his sole discretion.
Following the acquisition, Mr. Lore owns directly or indirectly and exercises control over 1,600,500 common shares of Forent, representing approximately 10.5% of the Company’s issued and outstanding common shares. Mr. Lore also holds options entitling him to purchase an aggregate of 350,000 common shares of Forent upon exercise of the options, bringing his total ownership to 1,950,500 common shares or approximately 12.8% of Forent’s issued and outstanding common shares on a partially diluted basis.
The above information has been provided to the Company by Messrs. Wilson and Lore for inclusion in this news release. An Early Warning Report respecting the acquisitions will be filed electronically on the Company’s SEDAR profile.
Shares of Forent trade on the TSX Venture Exchange under the symbol “FEN”.
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 press release.
Forent Energy Ltd.
Robyn Lore
President & CEO
(403) 262-9444 #201
rlore@forentenergy.com
Forent Energy Ltd.
Brad R. Perry
CFO
(403) 262-9444 #208
bperry@forentenergy.com
www.forentenergy.com