Forum National Investments Ltd. (OTC: FMNL) just announced that it has successfully “SOLD OUT” the first Canadian Financial product it offered. FMNL stock is set to open today at $1.87, a 98.94% gain from when we issued the first alert on the stock one month ago and -14.22% below its high of $2.18 from last week. When we tell you to put a penny stock on the list to watch, what we’re trying to tell you is go out and do your research on this thing because, if it suits your investment risk tolerance, its a damn good score.
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MNL Stock Chart
The Company said it is offering was oversubscribed and forced them to place a number of potential investors on a waiting list for their next $10 million Bond Offering. The next scheduled offering is set for sometime in August 2012.
Although this initial offering was targeted primarily towards accredited investors, the Company is completing a full offering memorandum that will allow for the average “Joe” to be able to participate in the next one. The minimum initial investment will be 10,000 Loonies ($10K CDN).
The financial product is targeted for retail investors that are looking to diversify their conventional investment portfolio with an alternative investment that is uncorrelated to the traditional stock market fluctuations and other economic downturns. FMNL is using Life Settlements as the back bone to collateralize the Bonds. The bonds performance is directly related to one factor only: the maturity and payment of the death benefit by a minimum “AA” rated carrier’s life Insurance policy which secures the bond.
Click here to view the entire press release.
Bottom Line: We know penny stocks and we know FMNL is still going to surpass $2 and top out above $3 before mid-July.
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