FORUM CLOSES NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C., January 4, 2018. Forum Uranium Corp. (FDC: TSX-V) announces that it has closed its non-brokered private placement previously announced on December 12, 2017.
The Company has raised $316,000 through the issuance of 3,950,000 units (“Unit”) at a price of $0.08 per Unit. Each Unit is comprised of one flow-through common share and one-half of one share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to purchase one nonflow through common share of the Company at a price of $0.12 per share for a period of 30 months expiring June 22, 2020.
The Company paid $14,000 cash commissions and issued 175,000 finder warrants at a price of $0.08 per finder warrant exercisable until December 22, 2018. All securities issued are subject to a four month hold period expiring April 23, 2018.
The proceeds from this financing will be used for exploration of the Company`s 100% owned Maurice Point Project adjacent to the Maurice Bay uranium deposit.
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 by exploring on its 100% owned properties and through strategic partnerships and joint ventures with Cameco, AREVA, Rio Tinto Exploration, NexGen and Uracan.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO
FORUM URANIUM CORP.
Suite 615, 800 West Pender St.
Vancouver, B.C. V6C 2V6
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For further information contact:
Rick Mazur, President & CEO
Craig Christy, VP Corporate Development
photo credit: Forum Uranium