VANCOUVER, BRITISH COLUMBIA--(Marketwire -05/15/12)- Forum National Investments Ltd. (OTC.BB: FMNL) ("FORUM") announced today May 15, 2012, that it is in formal negotiations with ALIYA Lifespan LLC ("ALIYA") on a working agreement to potentially merge their business interests in the US Life Settlement marketplace.
FORUM CEO Dan Clozza stated today that ongoing discussions on the terms of a deal have been taking shape with ALIYA since December 2011 and this is a significant milestone to formulating an agreement that would be presented to our Shareholders over the coming months. As part of this process FORUM has been divesting itself of business interest not related to what it envisions will be its core business, Life Settlements.
ALIYA COO Robert Benson stated that the time is once again right for expansion in the Life Settlement market. ALIYA is pleased to see the progress FORUM has made over the last six month in making the company a singularly focused entity in the Life Settlement industry. ALIYA involvement with FORUM originally dates back to 2007 when Aliya Life Settlements LLC made an initial investment of $7,000,000 USD. ALIYA Life Settlements LLC currently owns a 27.67% stake in the common shares of FORUM and will look to significantly increase that position.
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 LifesSpan™ 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.
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