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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 non-flow 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
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
Craig Christy, VP Corporate Development