Fortium Holdings Announces Rebranding to White River Energy

Rhea-AI Summary

Fortium Holdings Corp has officially rebranded as White River Energy Corp following majority shareholder approval on September 16, 2022. This name change is part of a strategic initiative to concentrate on oil and gas exploration and production, specifically targeting over 30,000 acres of mineral leases in Louisiana and Mississippi. White River has also divested from its cannabis and retail sporting goods subsidiaries, aligning its operations with a vertically integrated business model.

Positive

• Focus on oil and gas sector with 30,000 acres of mineral leases.
• Divesting from non-core businesses allows for better resource allocation.

Negative

• None.

Fortium Holdings Corp formally changes its name to White River Energy Corp

Rebranding initiative in line with strategic initiative to focus exclusively as a vertically integrated oil and gas exploration and production company

FAYETTEVILLE, Ark.--(BUSINESS WIRE)-- Fortium Holdings Corp (OTC: FRTM), today announced that following majority shareholder approval on September 16, 2022, it formally changed its name to White River Energy Corp (“White River”). Additionally, White River has formally discontinued operations in its cannabis business, Elysian Premium Corp, and its retail sporting goods business, Norr LLC, and has divested both subsidiaries. White River has submitted an application to the Financial Industry Regulatory Authority to change its trading symbol.

“We are excited to announce this rebranding and renaming initiative so we can focus all efforts on developing our more than 30,000 acres of oil and gas mineral leases in Louisiana and Mississippi through a vertically integrated business model,” stated Randy May, White River Executive Chairman.

Jay Puchir, White River CEO added, “We believe that divesting from these nascent businesses is in the best interest of the Company and our shareholders.”

About White River Energy Corp

White River’s principal subsidiary is White River Holdings Corp. which is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Louisiana and Mississippi.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005322/en/

Fortium Holdings Investors:

IR@fortium-holdings.com or 1-800-203-5610

Source: White River Energy Corp

FAQ

What is the new name of Fortium Holdings Corp?

Fortium Holdings Corp has changed its name to White River Energy Corp.

When did Fortium Holdings Corp announce its name change?

The name change was announced following shareholder approval on September 16, 2022.

What businesses has White River Energy Corp divested from?

White River has divested from its cannabis business, Elysian Premium Corp, and retail sporting goods business, Norr LLC.

What are White River Energy Corp's primary operations?

White River focuses on oil and gas exploration and production on over 30,000 acres in Louisiana and Mississippi.

Is White River Energy Corp planning to change its trading symbol?

Yes, White River has submitted an application to change its trading symbol.