On April 12, 2017 Fortem bought Black Dragon, LLC from Blue Phoenix Energy and Pacific Petroleum for a US$100,000 non-refundable deposit and 20 million shares (10 million each). Black Dragon's only asset is a purchase agreement with WEM Dragon, LLC: US$2.7 million cash (US$2.4 million if paid by September 1, 2017) plus the cost of drilling two horizontal Moenkopi wells by February 28, 2019, to earn a 75% interest (80% net revenue interest). The deal can be rescinded if Black Dragon terminates over title defects by April 17, 2017. This is a second acquisition from the same sellers as Colony, and again pays largely in new shares.
On April 7, 2017 Fortem bought 100% of Colony Energy, LLC, which holds Alberta Crown petroleum and oil sands leases on 20 sections (12,960 acres) in the Godin area of Northern Alberta. It paid 10,000,000 shares each to Blue Phoenix Energy and Pacific Petroleum for 83.4%, and agreed to issue 4,000,000 shares to Grassy Butte LLC for the other 16.7% (1,000,000 at closing, then 1,000,000 on each of the next three anniversaries). Colony also owes Grassy Butte Energy milestone payments of up to US$210,000; Fortem advanced US$30,000 for the closing payment, backed by a promissory note from Colony. This is the first acquisition after the early-2017 share sales and adds about 21 million shares at closing, with 3 million more to come.
On March 31 and April 3, 2017 Fortem sold 657,142 shares at US$0.70 for about US$460,000 to three non-U.S. and three U.S. persons. The price is higher than the US$0.50 of a few days earlier.
What it means for a shareholder
657,142 new shares at US$0.700 to raise about US$460,000. That's 1.7% dilution: every existing holder's slice gets 1.7% smaller. If you held US$1,000 of shares (1,429 at the issue price), your slice goes from 0.00381% to 0.00374% of the company. To keep it you'd need 25 more shares - about US$18 at the issue price.
On March 28, 2017 the company, now filing as Fortem Resources Inc., sold 1,120,000 shares at US$0.50 for US$560,000 to two non-U.S. persons and one U.S. person. The filing uses the Fortem name, a change from Strongbow Resources (the filing does not explain the rename).
What it means for a shareholder
1.1m new shares at US$0.500 to raise about US$560,000. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held US$1,000 of shares (2,000 at the issue price), your slice goes from 0.00533% to 0.00517% of the company. To keep it you'd need 60 more shares - about US$30 at the issue price.
On March 10, 2017 the company sold 200,000 shares at US$0.50 for US$100,000 to one non-U.S. investor. The price is double the US$0.25 used in February 2017.
What it means for a shareholder
200,000 new shares at US$0.500 to raise about US$100,000. That's 0.53% dilution: every existing holder's slice gets 0.53% smaller. If you held US$1,000 of shares (2,000 at the issue price), your slice goes from 0.00533% to 0.0053% of the company. To keep it you'd need 11 more shares - about US$6 at the issue price.
On February 16, 2017 the company sold 800,000 units at US$0.25 for US$200,000, each with a warrant to buy a share at US$0.60 until February 16, 2019, to one U.S. investor.
What it means for a shareholder
800,000 new shares at US$0.250 to raise about US$200,000. That's 2.5% dilution: every existing holder's slice gets 2.5% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0123% of the company. To keep it you'd need 101 more shares - about US$25 at the issue price.
On February 6 and 10, 2017 the company sold 1,310,000 shares at US$0.25 for US$327,500 to three non-U.S. persons and two U.S. persons.
What it means for a shareholder
1.3m new shares at US$0.250 to raise about US$327,500. That's 4.0% dilution: every existing holder's slice gets 4.0% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0121% of the company. To keep it you'd need 165 more shares - about US$41 at the issue price.
3 Feb 2017capital raising announcement● NeutralMajor
The company settled US$496,180 of debt with three creditors on January 13, 2017 by issuing 1,984,720 shares at US$0.25, and US$59,142.91 with one more creditor on January 30 by issuing 236,571 shares. One settlement was with Precision Asset Consulting Executives Inc., a related party because director Michael Caetano is a director and shareholder of it. About 2.2 million new shares replace the debt.
On January 30, 2017 the company sold 400,000 shares at US$0.25 for US$100,000 to one non-U.S. person and two U.S. persons.
What it means for a shareholder
400,000 new shares at US$0.250 to raise about US$100,000. That's 1.2% dilution: every existing holder's slice gets 1.2% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0124% of the company. To keep it you'd need 50 more shares - about US$13 at the issue price.
On November 29, 2016 the company sold 400,000 shares at US$0.25 for US$100,000 to one non-U.S. investor. The price is above the US$0.10 unit price used in September 2016.
What it means for a shareholder
400,000 new shares at US$0.250 to raise about US$100,000. That's 1.2% dilution: every existing holder's slice gets 1.2% smaller. If you held US$1,000 of shares (4,000 at the issue price), your slice goes from 0.0126% to 0.0124% of the company. To keep it you'd need 50 more shares - about US$13 at the issue price.
On September 22, 2016 the company sold 250,000 units at US$0.10 for US$25,000, each with a warrant to buy a share at US$0.40 until September 22, 2019. A small raise from one accredited U.S. investor.
What it means for a shareholder
250,000 new shares at US$0.100 to raise about US$25,000. That's 0.798% dilution: every existing holder's slice gets 0.798% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.0322% to 0.0319% of the company. To keep it you'd need 80 more shares - about US$8 at the issue price.
2 June 2016capital raising announcement● NeutralMajor
On May 17, 2016 the company issued a US$200,000 10% secured convertible debenture to one investor, maturing six months after issue and secured against all of the company's property. It converts at US$0.20 per unit (share plus a US$0.40 warrant for two years), and the investor also received 200,000 additional units. This adds secured debt and potential dilution.
On May 5, 2016 the company settled US$123,732.85 of debt with two creditors by issuing 353,521 shares at US$0.35. The debt is replaced by new shares rather than cash.
On March 9, 2016 the company sold 500,000 units at US$0.10 for US$50,000, each with a warrant to buy a share at US$0.40 until March 9, 2019. This was sold to one accredited U.S. investor.
What it means for a shareholder
500,000 new shares at US$0.100 to raise about US$50,000. That's 1.6% dilution: every existing holder's slice gets 1.6% smaller. If you held US$1,000 of shares (10,000 at the issue price), your slice goes from 0.0333% to 0.0328% of the company. To keep it you'd need 167 more shares - about US$17 at the issue price.
On March 8, 2016 the company cut the exercise price of 1,000,000 outstanding warrants from US$1.00 to US$0.40 and extended their expiry to March 8, 2019, with an unnamed third party. This makes the warrants cheaper to exercise and could bring in more shares (likely the 1,000,000 warrants from the September 2014 unit sale, which is an inference).
On November 3, 2015 the company granted 2,600,000 stock options to Michael Caetano (2,000,000), Robert Da Cunha (300,000) and Robert Madzej (300,000), exercisable at US$0.10 for five years and fully vested at grant. If exercised, these would add shares and dilute existing holders.
The company sold 22,222 shares at CDN$0.45 for CDN$10,000 to one non-U.S. investor on August 11, 2015. A very small share sale.
What it means for a shareholder
22,222 new shares at C$0.450 to raise about C$10,000. That's 0.0743% dilution: every existing holder's slice gets 0.0743% smaller. If you held C$1,000 of shares (2,222 at the issue price), your slice goes from 0.00744% to 0.00743% of the company. To keep it you'd need 2 more shares - about C$1 at the issue price.
20 Oct 2014capital raising announcement▲ GoodMajor
The company settled CAD$555,000 of promissory notes (issued to Stockbridge Resources Corp. in June and July 2012 and later assigned to Professional Trading S.A.) by paying CAD$200,000 in cash and issuing 538,461 shares at $0.65. This removes the loan from the company's debts in exchange for cash and new shares.
The company sold units (a share plus a warrant) in two placements: 80,000 units at CDN$0.65 for CDN$52,000 (warrants at CDN$1.50 to August 26, 2016) and 1,000,000 units at US$0.65 for US$650,000 (warrants at US$1.00 to September 3, 2017). The warrants could add more shares if exercised.
What it means for a shareholder
80,000 new shares at C$0.650 to raise about C$52,000. That's 0.281% dilution: every existing holder's slice gets 0.281% smaller. If you held C$1,000 of shares (1,538 at the issue price), your slice goes from 0.00543% to 0.00541% of the company. To keep it you'd need 4 more shares - about C$3 at the issue price.
The company sold 66,666 shares at CDN$0.75 for CDN$50,000 on June 18, 2014, and issued 200,000 shares at a deemed CDN$0.70 on June 24, 2014 to settle CDN$140,000 of debt. Both go to one non-U.S. person each; the debt settlement reduces what the company owes in exchange for new shares.
The company sold 100,000 shares at US$0.50 each for US$50,000 to one non-U.S. investor on April 28, 2014. This is a small share sale that adds shares outstanding.
What it means for a shareholder
100,000 new shares at US$0.500 to raise about US$50,000. That's 0.357% dilution: every existing holder's slice gets 0.357% smaller. If you held US$1,000 of shares (2,000 at the issue price), your slice goes from 0.00717% to 0.00714% of the company. To keep it you'd need 7 more shares - about US$4 at the issue price.
24 Feb 2012asset acquisition disposition● NeutralMajor
The company (filing under the name Strongbow Resources, Inc.) signed a farmout deal with Harvest Operations Corp. to earn a 100% working interest in a petroleum and natural gas license covering 5,120 acres in the Compeer Area of Alberta, which has no proven reserves or current production. To earn it, the company must spud a test well by June 1, 2012 (estimated cost $1.6-1.75 million), with a CAD$350,000 penalty if it cannot get Alberta operator status by March 30, 2012 or meet the well commitment. It also sold 1,333,333 shares at $0.15 for $200,000; the filing reports a change in shell company status, so this marks the start of oil and gas operations.
