Forte Energy secures financing deal

Forte Energy has entered into a 10m-pound equity financing facility (EFF) with Darwin Strategic, an arm of fund manager Henderson Global Volantis Capital.

Forte Energy has entered into a 10m-pound equity financing facility (EFF) with Darwin Strategic, an arm of fund manager Henderson Global Volantis Capital.

Managing Director of Forte Energy, Marc Reilly, said the facility would give the company access to much needed cost effective financing.

"The EFF provided by Darwin and Henderson Volantis allows us to maximize the value of new and existing opportunities while considerably reducing future financing risk," he said in a statement.

"The facility can be used entirely at our discretion."

He said talks are continuing over another major corporate deal and expects to inform the market in the next week.

Shares in Forte, which has uranium projects in the Republics of Guinea and Mauritania in West Africa, fell 4.56% to 2.20p at 9:43 Friday.

RD

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