By Sheri Kasprzak
New York, Aug. 10 - Forsys Metals Corp. said it has completed a private placement of units for C$2.7 million.
The company sold 9 million units at C$0.30 each.
The units include one share and one half-share warrant. The whole warrants allow for the purchase of an additional share at C$0.45 each through Aug. 5, 2007.
Quest Securities Corp. was the placement agent.
The proceeds will be used for the purchase of the Valencia uranium deposit in Namibia. The remainder will be used for working capital.
Based in Toronto, Forsys is a metals exploration company.
| Issuer: | Forsys Metals Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.7 million
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| Units: | 9 million
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| Price: | C$0.30
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Aug. 5, 2007
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| Warrant strike price: | C$0.45
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| Placement agent: | Quest Securities Corp.
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| Settlement date: | Aug. 9
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| Stock price: | C$0.78 at close Aug. 9
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