Offering funds drilling on the NW Athabasca project, working capital
By Devika Patel
Knoxville, Tenn., Jan. 14 - Forum Uranium Corp. said it will conduct a C$2 million non-brokered private placement of units and stock.
The company will sell units of one common share and a warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.49 for two years. Forum will also sell flow-through common shares at C$0.45 apiece.
The price per share is a 7.14% premium to the Jan. 11 closing share price of C$0.42. The warrant strike price is a 16.67% premium to that price.
Proceeds will be used for drilling on the NW Athabasca project and for general working capital.
Forum is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Forum Uranium Corp.
|
| Issue: | Units of one common share and a warrant, flow-through common shares
|
| Amount: | C$2 million
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| Agent: | Non-brokered
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| Pricing date: | Jan. 14
|
| Stock symbol: | TSX Venture: SNG
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| Stock price: | C$0.42 at close Jan. 11
|
| Market capitalization: | C$4.47 million
|
|
|
| Units
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.49
|
|
|
| Stock
|
| Price: | C$0.45
|
| Warrants: | No
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