Forum Closes $3 Million Private Placement
March 26 2014 - 4:43PM
Marketwired
Forum Closes $3 Million Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 26, 2014) -
Forum Uranium Corp. (TSX-VENTURE:FDC) (the "Company") - Further to
its news release of March 6, 2014, the Company is pleased to
announce the closing of its brokered private placement for gross
proceeds of $3,045,605 (the "Offering").
Under the Offering, the Company issued 4,501,800 flow-through
units ("FT Units") at $0.55 per FT Unit and 1,140,000 non
flow-through units ("Units") at $0.50 per Unit. Each FT Unit is
comprised of one common share of the Company and one-half of one
warrant (each whole warrant, a "FT Unit Warrant"), each whole FT
Unit Warrant entitling the holder to acquire a further common share
of the Company at a price of $0.70 for a period expiring March 26,
2015. Each Unit is comprised of one common share of the Company and
one-half of one warrant (each whole warrant, a " Unit Warrant"),
each Unit Warrant entitling the holder to acquire a further common
share of the Company at a price of $0.65 for a period expiring
March 26, 2015.
The Offering was led by Secutor Capital Management Corporation.
In connection with the Offering, the Company paid a cash commission
of $209,517.35 and issued 387,877 broker warrants, each such
warrant entitling the holder to acquire a common share of the
Company at a price of $0.50 for a period expiring March 26,
2015.
All securities of the Company issued in connection with the
Offering are subject to a hold period expiring July 27, 2014.
Gross proceeds from the sale of the FT Units will be used for
exploration of the Company's uranium projects in the Athabasca
Basin and the net proceeds from the sale of the Units will be used
for corporate development and general and administrative
purposes.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a
focus on the acquisition, exploration and development of Canadian
uranium projects. Forum has assembled a highly experienced team of
exploration professionals with a track record of mine discoveries
for unconformity-style uranium deposits in Canada. The Company has
a strategy to discover near surface uranium deposits in the
Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by
exploring on its 100% owned properties and through strategic
partnerships and joint ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo., President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forum Uranium Corp.Rick MazurPresident &
CEO604-630-1585Forum Uranium Corp.Matt TerrissDirector, Corporate
Affairs604-638-3947CHF Investor RelationsRobin CookSenior Account
Manager416-868-1079 x 228robin@chfir.com
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