In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Fortem Resources Inc. (OTCMKTS:FTMR) that Melo Jaime has picked up 17,500,000 of common stock as of 2017-07-10.
The acquisition brings the aggregate amount owned by Melo Jaime to a total of 17,500,000 representing a 15.1% stake in the company.
For those not familiar with the company, Fortem Resources Inc., formerly Strongbow Resources Inc. is focused on the acquisition, exploration and development of oil and gas properties located in the United States and Canada. The Company’s net probable reserves are approximately 89,600 barrels of oil. The Company has a well on approximately 160 developed acres. The Company has approximately 4,960 gross acres and 4,960 net undeveloped acres. The Company seeks to focus on the exploration and drilling of the Farmout Lands, identify and complete additional asset acquisition(s), and pursue joint venture agreements with third parties to explore for oil and gas in Canada and the United States. As of February 29, 2016, the Company had no proved undeveloped reserves. The Company has generated no revenue from pre-production sales of oil and commercial production.
A glance at Fortem Resources Inc. (OTCMKTS:FTMR)’s key stats reveals a current market capitalization of $239.05 Million based on $115.88 Million shares outstanding and a price at last close of $1.90 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-01-13, Caetano picked up 1,680,000 at a purchase price of $0.25. This brings their total holding to 2,430,000 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Fortem Resources Inc. (OTCMKTS:FTMR)as things move forward to see if its progress aligns with these transactions.
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