Far West Industries Inc (CDNX: FWT) and its investment bankers, Global Securities Corporation are pleased to announce that Far West has entered into a Letter of Intent to acquire 100 per cent of the outstanding shares of Umbro Canada Inc, a closely-held private sporting goods company.The company will issue 5,071,419 common shares, which will represent approximately 50 per cent of the fully diluted, issued and outstanding common shares of the company upon completion.