Forsys Metals Corp

Forsys Metals Corp

August 04, 2009 10:34 ET

Forsys Metals Corp.: GFI Confirms Financing for Plan of Arrangement

TORONTO, ONTARIO--(Marketwire - Aug. 4, 2009) - Forsys Metals Corp. ("Forsys") (TSX:FSY)(FRANKFURT:F2T)(NSX:FSY) is pleased to confirm that George Forrest International Afrique S.P.R.L. ("GFI") has announced today that it has entered into binding investment arrangements upon terms which permit it to complete the previously announced plan of arrangement transaction.

GFI's announcement states that the funds will be unconditionally available to GFI within fourteen days. On this basis, Forsys confirms that the previously announced arrangement agreement will stay in force in accordance with its terms until completion.

The closing of the plan of arrangement transaction will occur as soon as the funds are transferred to the depositary under the plan of arrangement. Accordingly, completion of the plan of arrangement is now anticipated to occur on or about Monday August 17, 2009 and a further announcement will be made once GFI's funds have been transferred to the depositary.

Please refer to GFI's announcement on

On Behalf of the Board of Directors of Forsys Metals Corp

Duane Parnham, President and CEO

For further information visit our website at

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This news release contains projections and forward looking information that involve various risks and uncertainties regarding future events. Such forward looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Corporation. These risks and uncertainties could cause actual results and the Corporation's plans and objectives to differ materially from those expressed in the forward looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Corporation assumes no obligation to update forward looking information should circumstances or management's estimates or opinions change.

Shares Outstanding: 78,985,231

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