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

Forsys Metals

15/08/2016 12:03

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 
 
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Further company coverage:  FSY.TO  
 
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