Forte Resources Inc.

Forte Resources Inc.

February 24, 2005 12:30 ET

Forte Resources Closes $15.6 Million Equity Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FORTE RESOURCES INC.

TSX SYMBOL: FRZ

FEBRUARY 24, 2005 - 12:30 ET

Forte Resources Closes $15.6 Million Equity Financing

CALGARY, ALBERTA--(CCNMatthews - Feb. 24, 2005) - Forte Resources Inc.
(TSX:FRZ) ("Forte") is pleased to announce that it has closed its
previously announced financing agreement of 4,000,000 common shares at a
price of $3.90 per share for gross proceeds of $15,600,000 as a result
of the previously announced bought deal financing agreement with a
syndicate of underwriters led by FirstEnergy Capital Corp. and including
GMP Securities Ltd. and Haywood Securities Inc..

Proceeds from this offering will be used to fund Forte's ongoing
exploration and development activities and for general corporate
purposes.

Forte Resources is a Calgary-based oil and natural gas production
company with operations primarily in Alberta, Canada. The company has a
record of successful growth through a combination of acquisitions,
exploration and development. Forte's common shares are listed on the
Toronto Stock Exchange under the symbol FRZ.

This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction. Such
securities have not been registered under the United States Securities
Act of 1933 and may not be offered or sold in the United States, or to a
U.S. person, absent registration, or an applicable exemption therefrom.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Forte Resources Inc.
    Douglas N. Baker
    President and Chief Financial Officer
    (403) 237-5163
    Email: forte@forteresources.ca
    Website: www.forteresources.ca
    or
    Forte Resources Inc.
    2450, 500 - 4th Avenue SW
    Calgary, AB T2P 2V6