Forum Uranium Closes Non-Brokered Private Placement
September 10, 2013 (Source: Marketwire) — Forum Uranium Corp. (TSX VENTURE:FDC) (“Forum” or the “Company”) announces that, further to its news releases of August 21 and August 27, 2013, it has raised $2,593,219 through the issuance of 7,008,702 units at a price of $0.37 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at a price of $0.50 for a period of two years expiring September 9, 2015.
The Company paid finder’s fees of $161,245.68 and issued 368,949 finder warrants exercisable at a price of $0.37 for a period of two years expiring September 9, 2015. All securities are subject to a four month hold period expiring January 10, 2014.
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Proceeds from this financing will be used to conduct ground geophysics and a winter drill program on the Company’s 100% owned Clearwater project adjacent to and on trend with the Alpha/Fission Patterson Lake South uranium discovery in the western Athabasca Basin, Saskatchewan.
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
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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>