AIAKArchidiecezjalny Instytut Akcji Katolickiej (Polish: Archdiocesan Institute of Catholic Action)
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FORUM ENERGY CORPORATION (OTC Bulletin Board: FRUEF; Berlin/Frankfurt/Munich: FE8) ("Forum" or "The Company") announced today that the Company has entered into an agreement with AIAK Group to raise $20 million for the development of the Company's petroleum and coal assets.
Chairman and Chief Executive Officer of AIAK Finance AG, Zug, Switzerland, the financial holding company of AIAK Capital Ltd, Labuan and AIAK Malaysia Sdn Bhd, Kuala Lumpur.
Based upon this valuation, clients of AIAK Swiss will then purchase a minority interest in the SPV in exchange for US$20 million.
We are extremely pleased to have signed an agreement with AIAK, who are handling the $20 million financing.