18 July 2017late filing notice▼ Bad
Fortem Resources Inc. notified the SEC that its quarterly report would be filed late.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
10 July 2017substantial holder notice● Neutral
Jaime Melo disclosed a new substantial Fortem Resources Inc. shareholding (15.10% of votes).
7 July 2017director interest notice● Neutral
Jaime Melo became a Fortem Resources Inc. 10%+ owner and company insider (initial ownership filing).
31 May 2017substantial holder notice● Neutral
Marc Bruner disclosed a new substantial Fortem Resources Inc. shareholding (30.20% of votes).
31 May 2017substantial holder notice● Neutral
Marc Bruner disclosed a new substantial Fortem Resources Inc. shareholding (29.70% of votes).
30 May 2017director interest notice● Neutral
Marc A Bruner became a Fortem Resources Inc. 10%+ owner and company insider (initial ownership filing).
24 May 2017asset acquisition disposition● NeutralMajor
On May 17, 2017 Fortem bought City of Gold, LLC from MAB Resources and JM Magna for 30,000,000 shares at a deemed US$2.00 each; 15,000,000 were issued at closing and 15,000,000 are due after City of Gold earns an option. City of Gold holds 2,930,259 Asia Pacific Mining shares and warrants and an option tied to a Myanmar exploration project, which is a mineral project rather than oil and gas. The option can only be earned once an exploration license is issued, subject to a financing condition. The filing says Marc Bruner's entities (Blue Phoenix and MAB Resources) now hold 37,500,000 shares, 32.36% of the company, and it reports a change in control item.
24 May 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
16 May 2017substantial holder notice● Neutral
Angela Mainardi disclosed a new substantial Fortem Resources Inc. shareholding (19.80% of votes).
15 May 2017director interest notice● Neutral
Angela Mainardi became a Fortem Resources Inc. 10%+ owner and company insider (initial ownership filing).
21 Apr 2017asset acquisition disposition● NeutralMajor
On April 17, 2017 Fortem bought Rolling Rock Resources, LLC from MAB Resources Holdings and JM Magna Holdings for a US$100,000 non-refundable deposit and 20 million shares (10 million each). Rolling Rock's only asset is a purchase agreement with Rockies Standard Oil Company: US$2.4 million cash (US$2.15 million if paid by September 1, 2017) plus the cost of three horizontal Mancos wells in each of three Federal Units by February 28, 2019, to earn 50% of the leases. This adds another 20 million shares and large cash and drilling commitments, following the Colony and Black Dragon deals.
21 Apr 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
19 Apr 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
17 Apr 2017asset acquisition disposition● NeutralMajor
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.
12 Apr 2017asset acquisition disposition● NeutralMajor
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.
7 Apr 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
4 Apr 2017capital raising announcement▲ Good
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.
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31 Mar 2017capital raising announcement▲ Good
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.
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30 Mar 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
16 Mar 2017capital raising announcement● Neutral
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.
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28 Feb 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
28 Feb 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
21 Feb 2017substantial holder notice● Neutral
Michael Caetano, Precision Asset Consulting Executives Inc disclosed a new substantial Fortem Resources Inc. shareholding (13.13% of votes).
21 Feb 2017capital raising announcement● Neutral
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.
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17 Feb 2017capital raising announcement● Neutral
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.
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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.
3 Feb 2017director interest notice● Neutral
Fortem Resources Inc. CEO/President/Secretary/Treas Michael Caetano bought 1,680,000 shares on the open market at $0.25.
1 Feb 2017capital raising announcement● Neutral
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.
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1 Feb 2017securities registration● Neutral
Fortem Resources Inc. filed notice of an exempt private placement.
17 Jan 2017quarterly activities report▼ Bad
Fortem Resources Inc. reported a quarterly net loss of $792 thousand for the period ended 2016-11-30.