VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/22/12)- Forum National Investments Ltd. (FMNL.OB) ("FORUM") announced today May 22, 2012, that formal agreements in relation to the negotiation and due diligence with ALIYA LifeSpan LLC (ALIYA) on a working agreement to potentially merge their business interests in the US Life Settlement marketplace have been executed.
FORUM CEO, Dan Clozza, stated today that Nondisclosure Agreements signed by both negotiating parties have been executed and the exchange of information required for due diligence is presently underway. Formal discussions on the terms of a deal continue.
ALIYA COO, Robert Benson, in addition to being pleased with the progress to date, stated that this is another step in the process and thanked the parties for the timely responses to date.
Forum National Investments Ltd. (http://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) http://www.thealss.com/.
About ALIYA LifeSpan:
Aliya LifeSpan™, LLC is a broad based financial asset management firm who specializes in Life Settlements and Life Settlement structured financial products. Aliya LifeSpan™ specializes in utilizing senior life insurance settlement policies, or more commonly known as "Life Settlements", as the asset basis for a variety of investment strategies, which we believe avoids many of the pitfalls of traditional investment classes. Life Settlements are an anomaly in today's investment environment. Life Settlements are not tied to any traded market such as stocks, bonds, foreign currency, or any political, economic or real estate calamity. We have created 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. Aliya LifeSpan™ http://www.aliyalifespan.com.
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.
- Life Settlement