Vancouver, B.C., May 11, 2020. Forum Energy Metals Corp. (FMC: TSX-V) (the “Company” or “Forum”) announces that it has increased in size and closed its non-brokered private placement announced April 15, 2020 and April 20, 2020. The Company raised $321,039 through the issuance of 5,350,648 units (the “Units”) priced at $0.06 per Unit (the “Offering”). Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.10 per share for up to five years expiring May 11, 2025. All securities issued are subject to a four month hold period expiring September 12, 2020.
Proceeds from the Offering will be used to augment the Company’s working capital during this period of the COVID-19 pandemic. Forum has taken measures to reduce its corporate overheads and streamline operations temporarily until exploration activities can commence once again.
About Forum Energy Metals
Forum Energy Metals Corp (TSX.V: FMC) explores for energy metals, including copper, nickel, platinum, palladium and uranium in Saskatchewan, Canada’s Number One mining province. In addition, Forum has also established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com
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, P.Geo., President & CEO
Burns Singh Tennent-Bhohi, Director