Leo Fund Managers Announces Closing of Acquisition of Common Shares of Forsys Metals Corp.

LONDON, England, Nov. 24, 2011 /CNW/ - Leo Fund Managers Limited ("Leo Fund") announced today that it has completed its previously announced subscription, for and on behalf of certain of its funds ("Funds"), for 13,559,322 common shares of Forsys Metals Corp. ("Forsys") on a private placement basis for an aggregate purchase price of $8,000,000 ($0.59 per common share). The private placement was completed pursuant to a subscription agreement between Leo Fund for and on behalf of the Funds and Forsys dated October 3, 2011, as amended on October 18, 2011.  Following the private placement, Leo Fund has control and direction over 29,284,322 common shares of Forsys or approximately 31.26% of the issued and outstanding common shares of Forsys.

Leo Fund acquired the common shares of Forsys for and on behalf of the Funds for investment purposes. Leo Fund may in the future, subject to regulatory constraints, take such actions in respect of the holdings of the Funds as it may deem appropriate in light of the circumstances then existing, including the purchase of additional common shares of Forsys through open market purchases or privately negotiated transactions or the sale of all or a portion of the common shares of Forsys in the open market or in privately negotiated transactions to one or more purchasers.

SOURCE Leo Fund Managers Limited

For further information:

Leo Fund Managers Limited
Liscartan House
127 Sloane Street
United Kingdom
tel: +44 (0)207 824 5863
fax: +44 (0)207 730 2809
Attention: Richard Parkhouse

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Leo Fund Managers Limited

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