Forest Gate Energy Inc.
Symbol & Exchange: FGE-V
Forest Gate Arranges Private Placement Of Up To $220,000
CALGARY, Alberta, October 5, 2011 /CNW Telbec/ - Forest Gate Energy Inc. (TSXV: FGE) reports that it is arranging a non-brokered private placement up to $220,000 by issuing an
aggregate of up to 3,666,666 flow-through units at a price of $0.06 per unit.
Each flow-through unit consists of one flow-through common share and one non-flow-through
common share purchase warrant. Each warrant will entitle the holder to purchase one additional
common share of Forest Gate at a price of $0.12 until 24 months from the date of issuance of the
warrants.
Forest Gate will use the proceeds from the issuance of the flow-through units to explore its 100%-
owned Pershing Iron/Gold Property located in the Abitibi Region of Quebec.
The private placement is subject to regulatory approval including that of the TSX Venture
Exchange.
About Forest Gate Energy
Forest Gate Energy Inc. is a publicly listed oil and gas exploration and production, and non-energy resource company trading on the TSX Venture Exchange under the symbol FGE. The Company is seeking to increase shareholder value through participation and development of energy and other resources in Canada and internationally.
For more information please contact:
Robert Kramberger,
V-P, Investor Relations
1-866-666-3040
rkramberger@forestgate.ca
www.forestgate.ca
FORWARD-LOOKING STATEMENTS
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.
