Forte Group Announces Strategic Initiatives to Strengthen Financial Position
Forte Group Holdings (CSE:FGH)(OTC:FGHFF) has announced two strategic financial initiatives. First, a non-brokered private placement offering 200,000 common shares at $0.60 per share, aiming to raise $120,000 for working capital and outstanding payables. The shares will have a four-month statutory hold period.
Second, the company plans to convert $29,000 in secured promissory notes into common shares at $0.48 per share, resulting in 60,416 new shares. These notes are secured against the company's property near Bridesville, British Columbia. Both transactions are expected to close around February 24, 2025.
Insiders may participate in the private placement, which falls under MI 61-101 regulations, with participation not exceeding 25% of the company's market capitalization. No finder's fees will be paid for the private placement.
Forte Group Holdings (CSE:FGH)(OTC:FGHFF) ha annunciato due iniziative finanziarie strategiche. In primo luogo, un'offerta di collocamento privato non intermediato di 200.000 azioni ordinarie a $0,60 per azione, con l'obiettivo di raccogliere $120.000 per il capitale circolante e i debiti in sospeso. Le azioni avranno un periodo di blocco statutario di quattro mesi.
In secondo luogo, l'azienda prevede di convertire $29.000 in cambiali garantite in azioni ordinarie a $0,48 per azione, generando 60.416 nuove azioni. Queste cambiali sono garantite da beni dell'azienda situati vicino a Bridesville, Columbia Britannica. Entrambe le transazioni dovrebbero chiudersi intorno al 24 febbraio 2025.
Le persone interne all'azienda possono partecipare al collocamento privato, che rientra sotto le normative MI 61-101, con una partecipazione che non supera il 25% della capitalizzazione di mercato dell'azienda. Non verranno pagate commissioni per il collocamento privato.
Forte Group Holdings (CSE:FGH)(OTC:FGHFF) ha anunciado dos iniciativas financieras estratégicas. Primero, una oferta de colocación privada no intermediada de 200,000 acciones ordinarias a $0.60 por acción, con el objetivo de recaudar $120,000 para capital de trabajo y cuentas por pagar pendientes. Las acciones tendrán un período de retención legal de cuatro meses.
En segundo lugar, la empresa planea convertir $29,000 en notas promisorias garantizadas en acciones ordinarias a $0.48 por acción, resultando en 60,416 nuevas acciones. Estas notas están garantizadas contra la propiedad de la empresa cerca de Bridesville, Columbia Británica. Se espera que ambas transacciones se cierren alrededor del 24 de febrero de 2025.
Los insiders pueden participar en la colocación privada, que se encuentra bajo las regulaciones MI 61-101, con una participación que no exceda el 25% de la capitalización de mercado de la empresa. No se pagarán comisiones por la colocación privada.
포르테 그룹 홀딩스 (CSE:FGH)(OTC:FGHFF)는 두 가지 전략적 재정 계획을 발표했습니다. 첫째, 주당 $0.60에 200,000주를 제공하는 비중개형 사모 배정으로 $120,000을 조달하여 운영 자본 및 미지급금에 사용할 계획입니다. 주식은 4개월의 법적 보유 기간이 있습니다.
둘째, 회사는 $29,000의 담보 약속어음을 주당 $0.48에 보통주로 전환할 계획이며, 이로 인해 60,416주의 신규 주식이 발행됩니다. 이 약속어음은 브라이즈빌, 브리티시컬럼비아 근처에 있는 회사의 자산에 대해 담보가 설정되어 있습니다. 두 거래 모두 2025년 2월 24일경에 마감될 것으로 예상됩니다.
내부자는 MI 61-101 규정에 따라 사모 배정에 참여할 수 있으며, 참여 비율은 회사의 시가총액의 25%를 초과하지 않습니다. 사모 배정에 대한 중개 수수료는 지급되지 않습니다.
Forte Group Holdings (CSE:FGH)(OTC:FGHFF) a annoncé deux initiatives financières stratégiques. Premièrement, une offre de placement privé sans intermédiaire de 200 000 actions ordinaires à 0,60 $ par action, visant à lever 120 000 $ pour le fonds de roulement et les créances en souffrance. Les actions auront une période de blocage légale de quatre mois.
Deuxièmement, la société prévoit de convertir 29 000 $ en billets à ordre garantis en actions ordinaires à 0,48 $ par action, entraînant l'émission de 60 416 nouvelles actions. Ces billets sont garantis par la propriété de la société près de Bridesville, en Colombie-Britannique. Les deux transactions devraient être finalisées autour du 24 février 2025.
Les initiés peuvent participer au placement privé, qui est soumis aux règlements MI 61-101, avec une participation ne dépassant pas 25 % de la capitalisation boursière de l'entreprise. Aucune commission de recherche ne sera payée pour le placement privé.
Forte Group Holdings (CSE:FGH)(OTC:FGHFF) hat zwei strategische Finanzinitiativen angekündigt. Erstens eine nicht vermittelte Privatplatzierung von 200.000 Stammaktien zu je 0,60 $, mit dem Ziel, 120.000 $ für Betriebskapital und ausstehende Verbindlichkeiten zu sammeln. Die Aktien unterliegen einer viermonatigen gesetzlichen Haltefrist.
Zweitens plant das Unternehmen, 29.000 $ an gesicherten Schuldscheinen in Stammaktien zu einem Preis von 0,48 $ pro Aktie umzuwandeln, was zu 60.416 neuen Aktien führt. Diese Schuldscheine sind durch das Eigentum des Unternehmens in der Nähe von Bridesville, British Columbia, gesichert. Beide Transaktionen sollen voraussichtlich um den 24. Februar 2025 abgeschlossen werden.
Insider können an der Privatplatzierung teilnehmen, die unter den Vorschriften MI 61-101 fällt, wobei die Teilnahme 25 % der Marktkapitalisierung des Unternehmens nicht überschreiten darf. Es werden keine Vermittlungsgebühren für die Privatplatzierung gezahlt.
- Conversion of $29,000 debt to equity improves balance sheet structure
- Raising $120,000 through private placement strengthens working capital position
- Small financing amount of $120,000 suggests investor interest
- Share dilution through both private placement and debt conversion
- Need for capital indicates potential cash flow concerns
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 14, 2025 / Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF)(FSE:7BC0, WKN:A40L1Z)("Forte Group" or the "Company"), a diversified lifestyle and wellness consumer packaged goods company, announces a non-brokered private placement financing (the "Private Placement"), consisting of the issuance of an aggregate of 200,000 common shares of the Company (the "Shares"), at a price of
The Company intends to use the proceeds of the Private Placement for general working capital and outstanding payables. Closing of the Private Placement is anticipated to occur on or about February 24, 2025.
Insiders may participate in the Private Placement and will be considered a related party transaction subject to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under subsections 5.5(a) and 5.7(a) of MI 61-101 on the basis that participation in the Private Placement by insiders will not exceed
This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act.
Proposed Conversion of Promissory Notes
The Company also announces that it intends to convert an aggregate principal amount of
Closing of the Shares for Debt Arrangement is anticipated to be on or about February 24, 2025 in accordance with the policies of the Canadian Securities Exchange.
None of the securities issued pursuant to the Shares for Debt Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About Forte Group Holdings Inc.
Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF)(FSE:7BC0, WKN:A40L1Z) is a diversified lifestyle and wellness consumer packaged goods company. Forte Group develops and manufactures a range of alkaline and mineral-enriched beverages and nutraceutical supplements for both its TRACE brand and private-label clients. Based in British Columbia, Canada, Forte Group owns a pristine natural alkaline spring water aquifer and operates a 40,000-square-foot, Health Canada and HACCP-certified manufacturing facility near Osoyoos, British Columbia. The Company's distribution network includes traditional retail and e-commerce channels, delivering wellness-focused products directly to consumers through its innovative offerings.
On behalf of the Board of Directors:
Marcello Leone, Chief Executive Officer and Director
info@fortegroup.co
604-569-1414
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws. These forward-looking statements include, but are not limited to, statements regarding the expected completion and timing of the Private Placement and the Shares for Debt Arrangement, the intended use of proceeds from the Private Placement for general working capital and outstanding payables, the expected participation of insiders in the Private Placement, and the conversion of secured promissory notes into Common Shares. Forward-looking statements reflect management's current beliefs, expectations, and assumptions as of the date of this release and are subject to significant risks, uncertainties, and other factors that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: the Company's ability to complete the Private Placement and Shares for Debt Arrangement in a timely manner or at all; regulatory approvals and compliance requirements; market and economic conditions; consumer demand for the Company's products; the Company's ability to generate sufficient revenue to meet its financial obligations; risks associated with securing and maintaining financing; competition within the industry; and potential supply chain disruptions. Additionally, risks related to insider participation in the Private Placement and the Company's reliance on exemptions under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions could impact the transaction's completion. The Company makes no assurance that the forward-looking statements will prove to be accurate and disclaims any obligation to update or revise these statements, whether as a result of new information, future events, or otherwise, except as required by law. For a more detailed discussion of these risks and other potential factors, please refer to the Company's public filings available on SEDAR+.
Contact Information
Marcello Leone
Chief Executive Officer, Director
info@fortegroup.co
604-569-1414
SOURCE: Forte Group Holdings
View the original press release on ACCESS Newswire
FAQ
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