Forent Energy Ltd. ("Forent" or the "Company") (TSX VENTURE:FEN) announces that its senior lender has filed an application to appoint a receiver over the Company. The application will be heard at the Calgary Court Center on Friday, May 5, 2017 at 2:00 p.m. In the event that a receiver is appointed, the Company anticipates that the TSX Venture Exchange will suspend and then delist the Company's securities.
No directors or officers of the Company have submitted resignations. It is anticipated that the directors and officers of the Company will resign concurrent with the appointment of a receiver.
In addition, as a result of restrictions placed on the Company by its senior lender, Forent will not be able to file its 2016 Annual Audited financial statements and MD&A by the due date.
Notwithstanding the foregoing, the Company is continuing to pursue strategic alternatives.
SOURCE: Forent Energy Ltd.
The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.