By Sheri Kasprzak
Atlanta, May 31 - Forum Development Corp. said it plans to raise up to C$2 million in a private placement.
The offering includes up to 4 million flow-through shares at C$0.25 each and up to 4 million units at C$0.25 each.
The units are comprised of one non flow-through share and one half-share warrant. The full warrants provide for an additional share at C$0.30 each for one year.
Placement agent Research Capital Corp. has an over-allotment option for up to an additional C$1 million.
Based in Vancouver, B.C., Forum Development is an energy development company. The proceeds will be used to advance the company's Maurice Point and Key Lake Road uranium program in the Athabasca Basin of Saskatchewan. The remainder will be used for working capital.
| Issuer: | Forum Development Corp.
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| Issue: | Flow-through shares and units of one non flow-through share and one half-share warrant
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| Amount: | C$2 million (maximum)
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| Placement agent: | Research Capital Corp.
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| Pricing date: | May 31
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| Stock price: | C$0.26 at close May 31
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| Flow-through shares
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| Issue: | Flow-through common shares
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| Shares: | 4 million (maximum)
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| Price: | C$0.25
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| Warrants: | No
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| Units
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| Issue: | Units of one share and one half-share warrant
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| Units: | 4 million (maximum)
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| Price: | C$0.25
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.30
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