Forte Energy NL

LSE : FTE


April 23, 2014 02:00 ET

Share Subscription in European Uranium Resources Ltd

                                                                                                        
                                                                                                        
                                                                                         Forte Energy NL
                                                                                                        
23 April 2014

                           Share Subscription in European Uranium Resources Ltd
                                                    

Forte  Energy  NL ("Forte" or "the Company") (ASX/AIM: FTE) is pleased to announce that it has  completed
its  private  subscription  for  shares and warrants in the capital of  European  Uranium  Resources  Ltd
("European Uranium") as part of the asset acquisition agreement announced on 4 April 2014.

The subscription was for 1,111,111 units for a total amount of CAD$ 100,000, based on a price per unit of
CAD$  0.09.  Each unit comprises one ordinary shares and one half of one share purchase  warrant,  for  a
total  of 1,111,111 ordinary shares in European Uranium and 555,555 warrants with two-year expiry  period
to  purchase  shares in European Uranium at CAD$0.15 per share. In accordance with Canadian  regulations,
these securities are subject to a hold period until 17 August 2014.

European  Uranium is listed on the Ventures Exchange of the Toronto Stock Exchange (as  well  as  on  the
OTCQX and Frankfurt exchanges) and has interests in a portfolio of uranium assets in Slovakia which Forte
has agreed to acquire.

The Acquisition will be effected by a purchase by Forte of European Uranium's Slovakian uranium assets on
the following terms:

   1.      Forte  will issue 854,875,000 fully paid ordinary shares @ AUD$0.008 per share (approximately
           0.44 pence) with an approximate value of CAD$ 7,000,000 to be distributed on a pro-rata basis 
           to the shareholders of European Uranium;
   2.      Forte will issue 61,062,500 fully paid shares @ AUD$0.008 per share (approximately 0.44 pence)
           with an approximate value of CAD$ 500,000  to European Uranium;
   3.      Forte will pay CAD$ 1,000,000 to European Uranium upon completion; and
   4.      Forte will grant European Uranium a 1% production royalty over the licences in perpetuity.

Final acquisition documentation including a Notice of Meeting for shareholders is being prepared and  the
company  will  notify  shareholders of the indicative time frame in  due  course.  Please  refer  to  the
announcement of 4 April 2014 for further details.





Mark Reilly
Managing Director




For further information contact:

Mark Reilly                                      Geoff Nash/Ben Thompson
Managing Director                                Elizabeth Johnson (broking)
Forte Energy NL                                  finnCap
Tel: +61 (0)8 9322 4071                          Tel: +44 (0)207 220 0500


Bobby Morse/Gordon Poole                         Oliver Morse/Trinity McIntyre
Buchanan                                         RFC Ambrian Ltd
Tel: +44 (0) 207 466 5000                        (AIM Nominated Adviser to the Company)
                                                 Tel: +61 (0) 8 9480 2500


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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