Vancouver, B.C., January 16, 2014 - Forum Uranium Corp. (FDC: TSX-V) (“Forum” or the “Company”) is pleased to announce that it has closed its non-brokered private placement previously announced on December 30, 2013. The Company has raised $49,950 through the issuance of 135,000 flow through units at a price of $0.37 per unit. Each flow through unit consists of flow through one common share and one share purchase warrant. Each warrant entitles the holder thereof to acquire one non-flow through common share at a price of $0.50 for a period of two years expiring January 9, 2016.
The Company paid finder’s fees of $3,496.50 and issued 9,450 finder warrants exercisable at a price of $0.37 for a period of two years expiring January 9, 2016. All securities are subject to a four month hold period expiring May 10, 2014.
Proceeds from this financing will be used for drilling on its Patterson Lake South Clearwater claims adjacent to the Fission PLS discovery in the western Athabasca Basin.
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.
For further information contact:
Rick Mazur, President & CEO
Matt Terriss, Director, Corporate Affairs
Robin Cook, Senior Account Manager
CHF Investor Relations
Tel: 416-868-1079 x 228