VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2012) - Forum National Investments Ltd. (OTCBB:FMNL) ("FORUM") and Aliya Companies International ("ALIYA") jointly announce that they have executed an Investment Agreement for eighty (80) million dollars of investment into FORUM over the next twenty-four (24) months. The Agreement was reached after almost a year of negotiations and regulatory delay.
The ALIYA group currently holds a twenty-three (23) percent ownership interest in FMNL as a result of a six million two hundred fifty thousand ($6.25 million) USD investment into FMNL in 2007.
The total investment of eighty (80) million USD in FMNL over the next twenty-four months will result in ALIYA having acquired a majority ownership and control of FMNL. ALIYA will earn out up to one hundred sixty (160) million shares of FMNL at a price of fifty cents ($0.50) USD per share.
"This is a new starting point for our ongoing financial commitment to FMNL," stated Aliya's CEO, Robert Benson. "We believe that the Life Settlement asset class will continue to grow and deliver above average returns for investors for the foreseeable future and as a company we plan on making FMNL a leader in this space."
The agreement is subject to the approval of the shareholders at a Special Meeting that will be held in conjunction with the AGM on or before November 30, 2012.
Forum National Investments Ltd. (www.foruminvestments.com) is a publicly held company currently trading on the OTCBB since 1998 under the symbol FMNL. The company's Life Settlement operations in the United States are conducted through its wholly owned subsidiary, The American Life Settlements (ALSS) (www.thealss.com).
About ALIYA COMPANIES
Aliya Companies (www.aliyaco.com) is a broad based financial asset management firm who specializes in debt and equity investments with specific emphasis in Life Settlements and Life Settlement structured financial products. The company's international Life Settlement operations are conducted through its wholly owned subsidiary, Aliya Companies International (ACI). Aliya believes that Life Settlements are an anomaly in today's investment environment. Life Settlements are not tied to any tradable investment market such as stocks, bonds, foreign currency, or to any political, economic or real estate calamity. This has enabled Aliya to create low volatility products for both individuals and institutions by leveraging the unique elements found in Life Settlements, which ultimately eliminates many of the potential shortcomings of many other investment classes.
FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect our businesses and financial results and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, except as required by law.