Canada NewsWire
TORONTO, Nov. 24, 2016
TORONTO, Nov. 24, 2016 /CNW/ - Forrester Metals Inc. (the
"Company" or "Forrester") (NEX: VEM.H) announces that the Company is undertaking a non-brokered private placement of up to
$500,000 through the issuance of up to 8,333,333 units, each unit being priced at 6 cents and comprising one common share and one common share purchase warrant exercisable at 9 cents for a one year period post closing. The placement is expected to be completed by November 30, 2016 and is subject to regulatory approval.
The net proceeds of the private placement will be used to advance the Company's recently acquired Bongará Zinc Project
comprising the Bongará Zinc Mine and the Charlotte Bongará Zinc Project, two high grade zinc-oxide properties located in
north-central Peru, as well as for general working capital purposes.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or developments that management of the Company expect, are
forward-looking statements. Actual results or developments may differ materially from those in forward-looking statements. Actual
results could differ materially from those currently anticipated due to a number of factors and risks. In addition to other risks
that may affect the forward-looking statements in this press release and those set out in Forrester's Annual Information Form for
the year ended December 31, 2015, and the outstanding legal matters between Forrester and Empresa
Minera Los Quenuales S.A. ("LQ"), a Peruvian subsidiary of the Glencore group that obtained a judgment in the Ontario Superior
Court of Justice (the "Judgment") which may enforce the Judgment or Forrester may not able be able to negotiate a satisfactory
settlement with LQ in relation to the Judgment. Forrester disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required
by applicable securities laws.
SOURCE Forrester Metals Inc.