SOURCE: Forum National Investments Ltd.

July 11, 2007 13:35 ET

Forum National Investments Completes US$3,500,000 Common Stock Private Placement

Company Has Over US$9,000,000 to Fund Life Settlement Division

VANCOUVER, BC--(Marketwire - July 11, 2007) - Forum National Investments Ltd. (FNI) (OTC: FMNLF) today announced that it has closed a private placement of 3,500,000 shares of common stock of FNI at a purchase price of US$1.00 per share, raising a total of US$3,500,000. The private placement was made to Aliya Life Settlement International, LLC, who last week purchased US$2,750,000 of FNI common stock via private placement. Over the past two weeks, FNI has privately placed US$9,000,000 of its common stock. The capital raised is earmarked for the company's life settlement division.

Aliya's Managing Director Robert Benson said, "We are extremely excited about our long term investment in Forum and the potential growth of the Life Settlement industry. Aliya intends to assist and support Forum in its effort to become a significant force in the Life Settlement industry."

"We welcome Aliya as a shareholder and partner in our efforts to build our Life Settlement business," said Dan Clozza, FNI President and CEO. "Aliya's financial and management resources will prove to be a substantial catalyst towards building our business."

Separately, FNI announced that it has adopted a stock option plan. The stock option plan comprises 2,835,000 in incentive common stock options exercisable at $1.00 per share for a period of five years that have been granted to certain directors, officers, employees and consultants of the company.

About Life Settlements:

A "Life Settlement" is the sale of an existing life insurance policy for a lump sum of cash that is more than the cash surrender value. The purchaser of such a policy becomes the irrevocable beneficiary of the policy purchased. Forum will purchase life insurance policies from consumers that are actively interested in selling their policies in the United States.

The information contained in this news release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Although Forum believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors, including general economic conditions, spending levels and other factors could cause actual results to differ materially from Forum's expectations.

Contact Information

  • For further information contact:
    Dan Clozza