Forest Gate Appoints New Director - TSX Approves Pershing Gold Property Acquisition
October 05 2010 - 8:30AM
PR Newswire (Canada)
MONTREAL, Oct. 5 /CNW/ -- Symbol & exchange: FGE-V MONTREAL,
Oct. 5 /CNW Telbec/ - Forest Gate Energy Inc. reports it has
appointed Brian Weihs as a Director of the company. Mr. Weihs is
the Consultancy Projects Manager for Latin America of Control
Risks. Control Risks is a London, U.K. based global consultancy
focused on assisting clients to assess, manage and mitigate risks
related to reputation, integrity, security and political risk.
Control Risks operates 27 offices around the world and its clients
include major and mid-sized oil and gas, oil services and mining
companies. Mr. Weihs has been with Control Risks since 2004. "Brian
brings a significant amount of international business experience
and risk management experience to Forest Gate," said Michael
Judson, Forest Gate's President and Chief Executive Officer. "He
has an extensive contact base in the natural resources sector
worldwide." Prior to joining Control Risks, Mr. Weihs was based in
Rio de Janeiro, Brazil, where he was Legal and Commercial Manager
of the Brazilian subsidiaries of WMC Resources Ltd. In 2005, when
acquired by BHP Billiton, Australian-based WMC Resources was one of
the largest mining companies in the world. Mr. Weihs was also Legal
and Commercial Manager of WMC's Pinares Project in Cuba, based in
Havana and Toronto. Mr. Weihs worked for WMC from 1998 to 2003.
Before joining WMC, Mr. Weihs worked for several years with
Scotiabank in corporate banking in Buenos Aires and Toronto. Mr.
Weihs speaks English, French, Spanish and Portuguese fluently and
holds a Masters in Business Administration and Degrees in both
Canadian and US Law. In other news, the TSX Venture Exchange has
approved Forest Gate's Purchase Agreement (announced in the
company's September 2, 2010 news release) to acquire the Pershing
gold property located near Val D'Or, Quebec. Pershing is a gold
exploration property consisting of 252 contiguous, unpatented
mining claims. With the closing of the purchase, Forest Gate has a
100 percent interest in the Pershing property. Details on the
Pershing Property, including maps, are now available on Forest
Gate's website: www.forestgate.ca. 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.
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. Robert Kramberger, V-P, Investor
Relations, 1-866-666-3040, rkramberger@forestgate.ca;
www.forestgate.ca
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