Deal consists of two types of units with one-year half-share warrants
By Devika Patel
Knoxville, Tenn., March 6 - Forum Uranium Corp. said it arranged a C$3 million private placement of units. The deal will be conducted by lead agent Secutor Capital Management Corp. and has a 10% greenshoe.
The company will sell 2 million units of one common share and one half-share warrant at C$0.50 per unit and 3,636,363 flow-through units of one flow-through common share and one half-share warrant at C$0.55 per unit.
The whole unit warrants are each exercisable at C$0.65 for one year, and the whole flow-through unit warrants are each exercisable at C$0.70 for one year. The strike prices reflect 32.65% and 42.86% premiums to the March 5 closing share price of C$0.49.
Proceeds will be used for exploration, corporate development and general and administrative purposes.
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 half-share warrant, flow-through units of one flow-through common share and one half-share warrant.
|
| Amount: | C$3 million
|
| Greenshoe: | 10%
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Agent: | Secutor Capital Management Corp. (lead)
|
| Pricing date: | March 6
|
| Stock symbol: | TSX Venture: FDC
|
| Stock price: | C$0.49 at close March 5
|
| Market capitalization: | C$13.95 million
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 2 million
|
| Price: | C$0.50
|
| Warrant strike price: | C$0.65
|
|
|
| Flow-through units
|
| Amount: | C$2 million
|
| Units: | 3,636,363
|
| Price: | C$0.55
|
| Warrant strike price: | C$0.70
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
