Published on 3/21/2013 in the Prospect News PIPE Daily.
Forum Uranium settles C$2.63 million private placement of units, stock
Offering funds drilling on the NW Athabasca project, working capital
By Devika Patel
Knoxville, Tenn., March 21 - Forum Uranium Corp. said it raised C$283,500 in the fourth and final tranche of a C$2.63 million non-brokered private placement of units and stock. The deal priced for C$2 million Jan. 14 and was revised on Jan. 23. The company raised C$428,050 on Feb. 6 and increased the deal to C$2.5 million from C$2 million on Feb. 15. It raised C$1.61 million on Feb. 26 and C$312,700 on March 8.
The company sold 4,916,000 units of one common share and a warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.49 until March 21, 2015. Forum also sold 2,271,250 flow-through common shares at C$0.40 apiece.
The price per share is a 4.76% discount to the Jan. 11 closing share price of C$0.42. The warrant strike price is a 16.67% premium to that price.
In the first tranche, Forum sold 840,000 flow-through common shares and 263,000 units. It sold 411,250 flow-through common shares and 4,116,000 units in the second tranche. In the third tranche, the company sold 395,000 flow-through shares and 442,000 units. In the final tranche, Forum sold 625,000 shares and 95,000 units.
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$2,629,100
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 14
|
| Revised: | Jan. 23
|
| Upsized: | Feb. 15
|
| Settlement date: | Feb. 6 (for C$428,050), Feb. 26 (for C$1,605,100), March 8 (for C$312,700), March 20 (for C$283,500)
|
| Stock symbol: | TSX Venture: FDC
|
| Stock price: | C$0.42 at close Jan. 11
|
| Market capitalization: | C$6.82 million
|
|
|
| Units
|
| Amount: | C$1,720,600
|
| Units: | 4,916,000
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | March 21, 2015
|
| Warrant strike price: | C$0.49
|
|
|
| Stock
|
| Amount: | C$908,500
|
| Shares: | 2,271,250
|
| Price: | C$0.40
|
| Warrants: | No
|
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