- Forum Energy Metals (FMC) has announced a non-brokered flow-through private placement of up to C$2.5 million
- The company will offer up to 5,555,555 flow-through units at $0.45 per unit
- The company will use the proceeds for further exploration of its uranium, copper, nickel and palladium projects in Saskatchewan
- The offering is scheduled to close on or about July 12, 2021
- Forum is drilling on three 100-per-cent owned energy metal projects in Saskatchewan in 2021
- Forum Energy Metals (FMC) closed down 1.28 per cent trading at $0.385 per share
Forum Energy Metals (FMC) has announced a non-brokered flow-through private placement of up to C$2.5 million.
The company will offer up to 5,555,555 flow-through units at $0.45 per unit.
Each flow-through unit consists of one Forum common share – to be issued as a flow-through share within the meaning of the Income Tax Act of Canada – and one half of one common share purchase warrant.
Each warrant entitles the holder to purchase one common share for $0.57 for 24 months following the closing of the offering.
Forum will use the proceeds for further exploration of its uranium, copper, nickel and palladium projects in Saskatchewan.
The exploration expenditures will go toward ‘Canadian Exploration Expenses’ – within the meaning of the Income Tax Act of Canada – which will be renounced to subscribers with an effective date no later than December 31, 2021.
The company expects the offering to close on or about July 12, 2021.
Red Cloud Securities is acting as a finder in connection with the majority of the offering.
Forum is drilling on three 100-per-cent owned energy metal projects in Saskatchewan in 2021. The company also has seven drill-ready uranium projects and a strategic land position in the Idaho Cobalt Belt.
Forum Energy Metals (FMC) closed down 1.28 per cent trading at $0.385 per share.