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Published on 8/21/2013 in the Prospect News PIPE Daily.

Forum Uranium negotiates C$2.25 million private placement of units

Proceeds used for ground geophysics and a 3,000-meter drill program

By Devika Patel

Knoxville, Tenn., Aug. 21 - Forum Uranium Corp. said it plans a C$2.25 million non-brokered private placement of units. The deal priced for C$1.5 million on Wednesday and was increased a few hours later.

The company will sell 6,081,081 units of one common share and one warrant at C$0.37 per unit. Each warrant will be exercisable at C$0.50 for two years. The strike price reflects a 13.64% premium to the Aug. 20 closing share price of C$0.44.

Proceeds will be used to conduct ground geophysics and a 3,000-meter drill program on the Clearwater project in Saskatchewan.

Forum is a uranium exploration and development company based in Vancouver, B.C.

Issuer:Forum Uranium Corp.
Issue:Units of one common share and one warrant
Amount:C$2.25 million
Units:6,081,081
Price:C$0.37
Warrants:One warrant per unit
Warrant expiration:Two years
Warrant strike price:C$0.50
Agent:Non-brokered
Pricing date:Aug. 21
Upsized:Aug. 21
Stock symbol:TSX Venture: FDC
Stock price:C$0.44 at close Aug. 20
Market capitalization:C$8 million

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