Source: Forum Energy Metals Corp.
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  • Forum Energy Metals Corp. (FMC) has increased its offering for gross proceeds of up to $2,200,000
  • The company had earlier this month announced a private placement financing of $1,700,000
  • Excluding the increase, all other aspects of the offering remain as earlier disclosed
  • Forum intends to use proceeds from the offering for drilling at its 100-per-cent-owned Wollaston uranium project in the northeast Athabasca Basin, Saskatchewan
  • Forum Energy Metals Corp. is a diversified energy metal company with uranium, copper, nickel, and cobalt projects
  • Forum Energy Metals Corp. was down 4.545 per cent, trading at $0.105 at 9:36 AM ET

Forum Energy Metals Corp. (FMC) has increased its previously-announced private placement for gross proceeds of up to $2,200,000.

Forum has also disclosed that it has closed the first tranche of the offering. The company raised $1,498,300 through the issuance of 11,525,386 flow-through units priced at $0.13 per unit.

Each unit consists of one flow-through common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.17 for up to two years expiring December 16, 2024.

The company paid $101,241 and issued 778,777 finder warrants. The finder warrants are priced at $0.13 for two years, expiring December 16, 2024. All securities issued are subject to a four-month hold period expiring April 17, 2023.

Forum intends to use proceeds from the offering for drilling at its 100-per-cent-owned Wollaston uranium project in the northeast Athabasca Basin, Saskatchewan and further exploration of the company’s uranium, copper, nickel and cobalt projects in Saskatchewan and Nunavut.

Forum Energy Metals Corp. is a diversified energy metal company with uranium, copper, nickel, and cobalt projects in Saskatchewan, a strategic uranium land position in Nunavut and a strategic cobalt land position in the Idaho Cobalt Belt.

Forum Energy Metals Corp. was down 4.545 per cent, trading at $0.105 at 9:36 AM ET.


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