- Forum Energy Metals (FMC) has closed the final tranche of its non-brokered private placement
- The second tranche raised $3,048,570 through the issuance of 6,774,600 flow-through units priced at $0.45 per unit
- Forum Energy raised total gross proceeds of $3,548,570 from the offering
- Proceeds will be used for further exploration of the company’s uranium, copper, nickel and palladium projects in Saskatchewan
- Forum Energy Metals Corp is a Canadian-based mineral resource company
- Forum Energy Metals Corp. (FMC) opened trading at C$0.335 per share
Forum Energy Metals (FMC) has closed the second and final tranche of its non-brokered private placement.
The company raised an additional $3,048,570 through the issuance of 6,774,600 flow-through units priced at $0.45 per unit.
Each unit consists of one flow-through common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.57 for up to two years expiring July 14, 2023.
Forum Energy raised total gross proceeds of $3,548,570.
Rick Mazur, President & CEO stated,
“This oversubscribed financing was well received by institutional shareholders in support of Forum’s diversified energy metals strategy. Forum is fully funded to conduct drilling over the next year on one of is majority owned uranium projects, its Love Lake Nickel/Copper/Palladium project and its new project pipeline.”
The company paid a commission of $205,304.38 and issued 456,231 finder warrants, of which Red Cloud Securities Inc. was paid $174,999.98 and issued 388,888 finder warrants. The finder warrants are priced at $0.45 for a term of 2 years expiring July 14, 2023.
All securities issued are subject to a four-month hold period expiring November 15, 2021.
Proceeds will be used for further exploration of the company’s uranium, copper, nickel and palladium projects in Saskatchewan.
Forum Energy Metals Corp, a Canadian-based mineral resource company, has three 100 per cent owned energy metal projects being drilled in 2021 by the company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan. Forum has a portfolio of seven drill-ready uranium projects and a strategic land position in the Idaho Cobalt Belt.
Forum Energy Metals Corp. (FMC) opened trading at C$0.335 per share.