Forum Uranium Corp. Announces $3 Million Private Placement
06 3월 2014 - 10:30PM
Marketwired
Forum Uranium Corp. Announces $3 Million Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 6, 2014) - Forum
Uranium Corp. (TSX-VENTURE:FDC) (the "Company") is pleased to
announce that it has engaged Secutor Capital Management Corporation
(the "Agent") to act as lead agent in connection with a private
placement of up to 3,636,363 flow-through units ("FT Units") at a
price of $0.55 per FT Unit for gross proceeds of up to $2,000,000
and up to 2,000,000 units ("Units") at $0.50 per Unit for gross
proceeds of up to $1,000,000.
Each FT Unit will consist of one flow-through common share and
one half of one non flow-through common share purchase warrant in
the capital of the Company. Each whole share purchase warrant (a
"Warrant") is exercisable into one common share of the Company for
a period of 12 months from closing at a price of $0.70 per common
share.
Each Unit will consist of one common share and one half of one
common share purchase warrant in the capital of the Company. Each
share purchase warrant (a "Warrant") is exercisable into one common
share of the Company for a period of 12 months from closing at a
price of $0.65 per common share.
On closing the Company will grant to the Agent an over-allotment
option to increase the size of the offering by 10% of the FT Units
and Units that are purchased under the private placement. The
option is exercisable in whole or in part for a period of 30 days
from closing on the same terms as set forth above solely to cover
over-allotment.
The Company will pay to the Agent a cash commission of 7% of the
gross sales of FT Units and Units and issue to the Agent 7% of the
number of FT Units and Units sold in Compensation Options, with
each Compensation Option being exercisable for 12 months at a price
of $0.50.
All the securities issuable will be subject to a four-month hold
period from the date of closing. The private placement is subject
to the approval of the TSX Venture Exchange.
The proceeds received from the FT Units will be used by the
Company to incur qualified Canadian Exploration Expenses and the
proceeds raised by the issuance of Units will be utilized for
exploration of the Company's uranium projects in the Athabasca
Basin, 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 &
CEO604-630-1585604-689-3609Forum Uranium Corp.Matt TerrissDirector,
Corporate
Affairs604-638-3947info@forumuranium.comwww.forumuranium.comUCHF
Investor RelationsRobin CookSenior Account Manager416-868-1079 x
228robin@chfir.com
Forum Uranium Corp. (TSXV:FDC)
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Forum Uranium Corp. (TSXV:FDC)
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