Vancouver, BC – November 16, 2016 - Forum Uranium Corp. (TSX.V: FDC) (the “Company”) announces the adoption of a Shareholder Rights Plan (the “Rights Plan”) which is intended to supercede and replace that plan approved at the Company’s 2013 AGM, which expires following the termination of the Company’s 2016 AGM, set for December 7, 2016 (the “2016 AGM”).
Shareholder Rights Plan
The Rights Plan takes into account the new takeover bid rules adopted by the Canadian Securities Administrators (the “CSA”). The CSA have approved some changes to the takeover bid regime in Canada, including that a formal bid must remain open for acceptance for at least 105 days, subject to the ability of the target issuer to voluntarily reduce that period.
The Rights Plan was not adopted by the Board of Directors in response to any offer or takeover bid and is not intended to prevent a takeover bid.
The Rights Plan remains subject to the approval of the TSX Venture Exchange. The Rights Plan also remains subject to ratification of the shareholders of the Company at the 2016 AGM. If the Rights Plan is not ratified by the shareholders, the Rights Plan will terminate and cease to be effective at that time. If the Rights Plan is ratified, it will continue in effect until the close of the annual meeting of the shareholders in 2019.
A copy of the Rights Plan will be filed on SEDAR at www.sedar.com and a summary of the Rights Plan is set out in the information circular of the Company for the 2016 AGM, which is also available on SEDAR.
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
For further information contact:
Rick Mazur, President & CEO
Matt Terriss, Director, Corporate Affairs
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.