Fortem Resources Inc fka FTMR

[phrocks]

Pimee Energy website is up.

https://www.pimeenergy.com

[phrocks]

As of right now it looks like be, I was told the same thing

[lizard lips]

Is this company dead? I thought it was merging into Pemee(sp?)

[phrocks]

I heard the same thing, getting hard to believe.

[buccaneer1961]

no...ive never heard of that happenning

[buccaneer1961]

ok,thankyou

[phrocks]

Not yet

[buccaneer1961]

are they public?

[phrocks]

another Canadian oil company

[buccaneer1961]

remember this was to be such a hot stock...what a crudfest....who is pimee anyhow?

[buccaneer1961]

somebody is bringing in buyers monday lololozzzzzzzzzzzzzzzzzzz

[phrocks]

Supposedly getting rolled into Pimee, but of course as you see Pimee's website isn't even up:

http://pimeenergy.com/

[lizard lips]

So is this dead, done, cooked? Or is it getting rolled into Pimee? Where did all the other chat members go….?

[phrocks]

Nothing,

[lizard lips]

Any new news?

[lizard lips]

Any news? Is this dead or becoming part of a new entity?

[Highflier69]

It would be nice to own an oil stock now. Oh, I do. Oh, I did. Oh, maybe I will again. By then, oil is back to $45. Or maybe instead I can find a company that wants oil, finds water and transforms into a cannibis company. Oh, did that too. My luck for the past 10 years. Glad I started investing young. Hoping for 2022 on 2.22.22 to be a great year!

[lizard lips]

If and when this board moves, can someone let me know the new board address (ie. Pimee Energy)? Thx

[Citrati]

Not much more that can leak, when there is nothing left. Can't buy, can't sell. No price. Zero, zip, nil, nada across all fronts.

[FOODINI]

Things are starting to leak.

[phrocks]

http://pimeenergy.com

[lizard lips]

Anyone have any info/facts on this supposed new Pimme entity which will include Fortem assets?

[phrocks]

Where did you hear that from?

[phrocks]

That's what suppose to happen

[lizard lips]

Anyone familiar with Pimme, and the supposed inclusion of Fortem assets?

[lizard lips]

So our investment is gone and worthless…take the losses? I was under the impression they were gonna re-org.? What a scam!

[samsamsamiam]

https://www.sec.gov/litigation/admin/2022/34-94033.pdf

[Citrati]

So Bruno the Billionaire giving it up. Are you thinking a re-org means an attempt to move forward or bring in a new partner/entity/ acquisition and continue their record of failure?

[FOODINI]

No info available. FTRM is gone. You may see a re-org sooner or later.

[lizard lips]

Is there a new chat room/ticker for the new reorged Fortem?

[phrocks]

Same here, let's see what it opens at

[Highflier69]

I hear patience as much as hurry buy. Same with some of you on H$NC. No reason to leave, would double down in sub $0.10. I've been here about 10 years. What's one more year?

[phrocks]

Patience

[lizard lips]

Happy New Year. Anyone “know” if this has a chance of re-orging, or are we done?

[lizard lips]

Well that’s encouraging….talk about a silver lining and the glass is half full. Ugh…. What POS this has been?!

[Citrati]

There are some differences this time.
No brokerage will let you buy
No Bid or Ask.
Can't sell when there is no market.
Longest stretch as FTMR with no volume.
The good news is that holders can no longer lose more money than what their calculated loss is today.

[FOODINI]

It's dejavu all over again.
Same as the last 3 years.
Next year, end of January,next week. next month.
On and on it goes.

[phrocks]

After the first of the year, by the end of January

[lizard lips]

Is this dead? No news, no new filing under a new company…what gives?

[Citrati]

It looks to me that the 8-k filed Oct 6 and noted for Oct 10 was the filing for bankruptcy only.
Worth reading to understand some key areas.

https://fintel.io/doc/sec-fortem-resources-inc-1382231-ex991-2021-october-18-18918-2452

[lizard lips]

Are they really going to re-org, or is this just more of the same bs we’ve heard the past several years? Any facts or announcements to validate this?

[FOODINI]

You are right.
Filed 8-K Oct 6th.

[Citrati]

How are they current with their filings when OTCMarkets says otherwise?

"Delinquent SEC reporting" is their current status.

[FOODINI]

They are keeping their filings current and they are in the process of re-org.
I believe that their is a strong possibility that they could resurrect this company.

[Highflier69]

Same update for the past year. Too bad it stopped trading, I was going to triple down at $0.005.

[lizard lips]

Any new info or updates?

[RandyKCMO]

8-K of recent actions.


Item 1.03
Bankruptcy or Receivership
On October 6, 2021 (the “Petition Date”), Fortem Resources Inc. (the “Company” or the “Debtor”) filed a voluntary petition (the “Chapter 11 Petition”) under chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy Court”). The Debtor’s chapter 11 case is captioned “In re Fortem Resources Inc.” and was assigned case number BK-21-14823-nmc (the “Chapter 11 Case”).
The Debtor intends to continue to operate its business as a “debtor-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.

The Company anticipates seeking approval of the Bankruptcy Court to approve a debtor-in-possession credit facility in an aggregate principal amount that has not yet been determined (the “DIP Financing”) and to set a timeline for the Chapter 11 Case, culminating in a plan of reorganization (the “Plan of Reorganization”) that is currently being negotiated. The Company anticipates filing additional Current Reports on Form 8-K once the DIP Financing and Plan of Reorganization have been finalized and signed.

Item 2.04
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
Pursuant to Section 362 of the Bankruptcy Code, the filing of the Chapter 11 Petition automatically stayed most actions against the Debtor, including actions to collect indebtedness incurred prior to the Petition Date or to exercise control over the Debtor’s property. Subject to certain exceptions under the Bankruptcy Code, the filing of the Chapter 11 Petition also automatically stayed the continuation of most legal proceedings or the filing of other actions against or on behalf of the Debtor or its property to recover on, collect or secure a claim arising prior to the Petition Date or to exercise control over property of the Debtor’s bankruptcy estates, unless and until the Bankruptcy Court modifies or lifts the automatic stay as to any such claim. Notwithstanding the general application of the automatic stay described above, governmental authorities may determine to continue actions brought under their regulatory powers.

Item 3.01
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
The OTC Pink Open Market also halted trading in the Company’s common stock on October 7, 2021.
The Company’s common stock remains suspended pending a review of the eligibility for continued listing of the Company’s common stock on the NEX Exchange in Canada.

Item 7.01
Regulation FD Disclosure.
On October 18, 2021, the Company issued a news release in connection with the filing of the Chapter 11 Petition. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Court filings and other documents related to the court-supervised process are available at electronically through the Bankruptcy Court’s CM/ECF system at http://ecf.nvb.uscourts.gov (PACER account required), or by sending an email to the Company’s bankruptcy counsel, Fox Rothschild, LLP, at [e-mail].
The information furnished in this Item 7.01 of this Current Report on Form 8-K and the news release attached hereto as Exhibit 99.1 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
News Release of Fortem Resources Inc. dated October 18, 2021.

2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FORTEM RESOURCES INC.

By: /s/ Mark A. Bruner


Marc A. Bruner
Chief Executive Officer

Date: October 18, 2021


https://www.sec.gov/Archives/edgar/data/0001382231/000108503721000089/form8k.htm

[RandyKCMO]

Press Release of Fortem Resources entering receivership.

FORTEM RESOURCES FILES CHAPTER 11 TO PURSUE FINANCIAL AND OPERATIONAL REORGANIZATION
Vancouver, BC, October 18, 2021 – Fortem Resources Inc. (TSXV:FTM, OTCQB:FTMR) (the “Company”) today announced that it filed a voluntary petition (the “Chapter 11 Petition”) under chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy Court”) on October 6, 2021. The Company’s chapter 11 case is captioned “In re Fortem Resources Inc.” and was assigned case number BK-21-14823-nmc (the “Chapter 11 Case”).
The Company intends to continue to operate its business as a “debtor-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court.
The Company anticipates seeking approval of the Bankruptcy Court to approve a debtor-in-possession credit facility in an aggregate principal amount that has not yet been determined (the “DIP Financing”) and to set a timeline for the Chapter 11 Case, culminating in a plan of reorganization (the “Plan of Reorganization”) that is currently being negotiated. The Company anticipates filing additional Current Reports on Form 8-K once the DIP Financing and Plan of Reorganization have been finalized and signed.
Pursuant to Section 362 of the Bankruptcy Code, the filing of the Chapter 11 Petition automatically stayed most actions against the Company, including actions to collect indebtedness incurred prior to the Petition Date or to exercise control over the Company’s property. Subject to certain exceptions under the Bankruptcy Code, the filing of the Chapter 11 Petition also automatically stayed the continuation of most legal proceedings or the filing of other actions against or on behalf of the Company or its property to recover on, collect or secure a claim arising prior to the Petition Date or to exercise control over property of the Company’s bankruptcy estates, unless and until the Bankruptcy Court modifies or lifts the automatic stay as to any such claim. Notwithstanding the general application of the automatic stay described above, governmental authorities may determine to continue actions brought under their regulatory powers.
The OTC Pink Open Market also halted trading in the Company’s common stock on October 7, 2021. The Company’s common stock remains suspended pending a review of the eligibility for continued listing of the Company’s common stock on the NEX Exchange in Canada. Trading in the Company’s stock is prohibited.
Court filings and other documents related to the court-supervised process are available electronically through the Bankruptcy Court’s CM/ECF system at http://ecf.nvb.uscourts.gov (PACER account required), or by sending an email to the Company’s bankruptcy counsel, Fox Rothschild, LLP, at [e-mail].


On behalf of Fortem Resources Inc.

Marc Bruner
Chairman, Chief Executive Officer and Director
403-241-8912


https://www.sec.gov/Archives/edgar/data/0001382231/000108503721000089/newsrelease.htm

[FOODINI]

Great post.
Don’t let’s hold are breath.

[Citrati]

What are concerning to me about restructuring are the following issues.
Will there be a split of some sort?
Will there be preferential treatment of other classes of stock?
Will there be new management and if so who?
Will Michael Catano be in or out?
Will additional funding enter the new entity? If so, is that funding sufficient to develop one or more properties into revenue positive operations? How much will Bruno be contributing or has someone been found who will buy him out?
Who, if anyone, will be immediately financially benefitted from the restructuring?

These are just a few of my questions. I am sure others here can add to the list.

Is there any proof, that the restructuring is in process?