03:21 PM EST - Forsys Metals Corp. : announced that it has entered into a Subscription Agreement with Leo Fund Managers Limited, whereby Leo will subscribe, on behalf of certain of its funds, on a private placement basis, for new common shares in the capital of the Company at a subscription price per share equal to the lesser of 90% of the volume weighted average trading price on the Toronto Stock Exchange of the Company's common shares for the 20 consecutive trading days prior to the date shareholder approval is received or $0.59 for gross proceeds of $8,000,000. The share subscription will form part of a larger private placement of new shares by the Company for gross proceeds of up to a maximum amount of $10,000,000. Forsys Metals Corp.
shares T.FSY are trading up $0.04 at $0.54.
