Dundee Securities is lead agent as company seeks to fund exploration
By Devika Patel
Knoxville, Tenn., April 7 - Forum Uranium Corp. said it has arranged a private placement of units and stock. The C$5 million offering will be conducted on a best-efforts basis by lead agent Dundee Securities Ltd. with a 15% greenshoe.
The company will sell 6,667,000 units of one common share and one half-share warrant at C$0.15 per unit. Each whole warrant is exercisable at C$0.25 for three years. The company also will sell 22,223,000 flow-through common shares at C$0.18 apiece.
The warrant strike price and price per flow-through share are a 35.14% premium and a 2.7% discount to the April 6 closing share price of C$0.185.
Settlement is expected May 4.
Proceeds will be used for exploration and general corporate purposes.
Forum is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Forum Uranium Corp.
|
| Issue: | Flow-through common stock, units of one common share and one half-share warrant
|
| Amount: | C$5,000,190
|
| Greenshoe: | 15%
|
| Agent: | Dundee Securities Ltd. (lead)
|
| Pricing date: | April 7
|
| Settlement date: | May 4
|
| Stock symbol: | TSX Venture: FDC
|
| Stock price: | C$0.185 at close April 6
|
| Market capitalization: | C$21.37 million
|
|
|
| Units
|
| Amount: | C$1,000,050
|
| Units: | 6,667,000
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.25
|
|
|
| Shares
|
| Amount: | C$4,000,140
|
| Shares: | 22,223,000
|
| Price: | C$0.18
|
| Warrants: | No
|
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