🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

BRIEF-Forsys announces non-brokered private placement, achieves cost reduction targets for 2016 and 2017

Published 2016-08-15, 07:18 a/m
© Reuters.  BRIEF-Forsys announces non-brokered private placement, achieves cost reduction targets for 2016 and 2017
FSY
-

Aug 15 (Reuters) - Forsys Metals Corp FSY.TO :

* Forsys Metals Corp says all directors, senior management and staff have accepted substantial reductions in cash component of salaries

* Forsys announces non-brokered private placement and achieves cost reduction targets for 2016 and 2017

* Forsys Metals Corp says average cash outgoings for wages and salaries will be reduced by 87% from q4 2016

* Forsys Metals Corp says reductions in cash outgoings will be accrued and settled in shares pending customary approvals and conditions

* Forsys Metals Corp says pay reductions will achieve a low burn rate, with less than $50,000 in outgoings per month from next quarter Source text for Eikon: ID:nMKWZ6Rwqa Further company coverage: FSY.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.