Mr. Marcello Leone reports
FORTE GROUP CLOSES STRATEGIC INITIATIVES TO STRENGTHEN FINANCIAL POSITION
Effective Feb. 24, 2025, Forte Group Holdings Inc. has closed its previously announced non-brokered private placement financing, further to its news release dated Feb. 14, 2025. The private placement consisted of the issuance of an aggregate of 200,000 common shares of the company at a price of 60 cents per share for total gross proceeds of $120,000. The shares are subject to a statutory hold period, expiring on June 25, 2025.
The company intends to use the proceeds of the private placement for general working capital and outstanding payables.
Conversion of promissory notes
The company also announces that, further to its news release dated Feb. 14, 2025, it has converted an aggregate principal amount of $29,000 in secured promissory notes, which were secured against its property near Bridesville, B.C., and issued by Naturo Group Enterprises Inc., into common shares to an arm's-length holder at a price of 48 cents per common share, resulting in the issuance of 60,416 common shares. All common shares issued in connection with the shares for debt will be subject to a statutory hold period, expiring on June 25, 2025.
About Forte Group Holdings Inc.
Forte Group Holdings is a diversified lifestyle and wellness consumer packaged goods company. Forte Group develops and manufactures a range of alkaline and mineral-enriched beverages and nutraceutical supplements for both its Trace brand and private label clients. Based in British Columbia, Canada, Forte Group owns a pristine natural alkaline spring water aquifer and operates a 40,000-square-foot, Health Canada and HACCP (hazard analysis and critical control points) certified manufacturing facility near Osoyoos, B.C. The company's distribution network includes traditional retail and e-commerce channels, delivering wellness-focused products directly to consumers through its innovative offerings.
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