Forte Energy NL
AIM : FTE

February 19, 2016 02:00 ET

Revised Transaction Funding Agreement

                                                                                           Forte Energy NL
                                                                                           ACN 009 087 852
                                                                                                          
                                                                                               AIM Release
                                                                                          19 February 2016

Revised Transaction Funding Agreement

Forte  Energy  NL  ("Forte" or "the Company") (AIM: FTE), is pleased to advise that  the  convertible  loan
agreement  with  DJ  Family  Trust  ("DJFT") announced on 17 December 2015  has  been  revised  to  provide
additional transaction funding whilst the Company progresses the acquisition of BOS GLOBAL Limited ("BGL").

Under  the  revised agreement, the initial loan amount has been recognised as £100,000 and the Company  may
draw  up  to  £400,000 additional funding via Convertible Notes. The key terms for the revised  Convertible
Loan Note agreement are as follows:

    *       Maximum principal available under the facility: £500,000;
    *       Maturity date: 2 years from date of issue;
    *       Interest: interest will be charged at 20% per annum if the loan is repaid to the lender, 
            however no interest will apply should the lender elect to convert the loan amount, and
    *       Conversion price: the lender may elect to convert all or part of the loan at 80% of an 
            weighted market price calculated from selected trading days during the 5 trading days prior to 
            conversion.

As  announced on 7 January 2016, the acquisition of BGL Shares by Forte (the "Acquisition") will be treated
as  a  reverse  takeover  under the AIM Rules for Companies and will be subject to the  approval  of  Forte
shareholders.

Forte is preparing a notice of meeting to seek the approval of Forte shareholders for the Acquisition,  and
apply  for admission to AIM as a business and financial technology ("FinTech") company. Trading in  Forte's
shares  on  AIM  remains  suspended pending publication of an admission  document  or  termination  of  the
Acquisition.

BGL  is  an  unlisted Australian public company focused on the aggregation of cloud technology  investments
targeting  banks,  financial  institutions, insurers and professional  consulting  organisations.  BGL  has
extensive  FinTech  experience with its established network of professional investment,  enterprise  sales,
product  marketing,  product  design,  software development and support  capabilities  worldwide.  BGL  has
publicly  stated  its  objective to be a listed organisation in UK, Australia and United  States  over  the
coming  five years. This transaction is the first step to achieving its stated goals for shareholders.  For
further corporate information about BGL visit www.bosglobal.biz .

The Company looks forward to imminently providing shareholders with an updated timetable for the
transaction.

For further information contact:

Mark Reilly, Managing Director
Forte Energy NL                          Tel: +61 (0) 8 9322 4071

Oliver Morse
RFC Ambrian Ltd                          Tel: +61 (0) 8 9480 2500
(AIM Nominated Adviser to the Company)


Forte Energy NL

Suite 3, Level 3
1292 Hay Street
West Perth WA 6005
Ph: +61 (0)8 9322 4071
Fax: +61 (0)8 9322 4073
Email: info@forteenergy.com.au
Web: www.forteenergy.com.au

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  • Forte Energy NL