Shares outstanding: 142 Million
Symbol & exchange: FGT-V
MONTREAL, June 23 /CNW Telbec/ - Forest Gate Resources Inc. ("Forest
Gate") is pleased to announce the following re-appointments to its Board of
Directors of Messrs. Michael C. Judson, Jean Mayer, Ed Ierfino and Robert
Kramberger at the Annual and Special Meeting of Shareholders held in Montreal
on June 23, 2009.
Forest Gate also reports that shareholders approved the consolidation of
Forest Gate's common shares on the basis of one post-consolidation common
share for every ten (10) pre-consolidation common shares held. Upon
implementation of the consolidation Forest Gate will have approximately
14,322,000 common shares issued and outstanding. Forest Gate's shareholders
also approved the change of name to "Forest Gate Energy Inc."
Forest Gate will issue a news release once the consolidation and the name
change become effective.
About Forest Gate Resources
Forest Gate Resources is an international oil & gas exploration and
production company. It is seeking to increase shareholder value through
participation and development of oil & gas exploration and production projects
in Canada and internationally.
Certain statements regarding Forest Gate, including management's
assessments of future plans and operations and Forest Gate's anticipated
financial performance, may constitute forward-looking statements under
applicable securities laws and necessarily involve known and unknown risks and
uncertainties, most of which are beyond Forest Gate's control. These risks may
cause actual financial and operating results, performance, levels of activity
and achievements to differ materially from those expressed in, or implied by,
such forward-looking statements.
Such factors include, but are not limited to: the impact of general
economic conditions in Canada and the United States; industry conditions
including changes in laws and regulations including adoption of new
environmental laws and regulations, and changes in how they are interpreted
and enforced; competition; the lack of availability of qualified personnel;
fluctuations in commodity prices; the results of exploration and development
drilling and related activities; imprecision in reserve estimates; the
production and growth potential of Forest Gate's various assets; fluctuations
in foreign exchange or interest rates; the ability to access sufficient
capital from internal and external sources; and obtaining required approvals
of regulatory authorities.
Neither TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or the accuracy of this release. This
transaction is subject to TSX Venture Exchange Approval.
For further information:
For further information: Robert Kramberger, V-P, Investor Relations,
1-866-666-3040, email@example.com; www.forestgate.ca