Investing News Network
May 24, 2023
Forum Energy Metals Corp. ( TSXV: FMC ) (OTCQB: FDCFF) ("Forum" or "the Company") announces a non-brokered private placement of up to $3,000,000 through the issuance of up to 22,222,222 flow through shares (the "FT Shares") at a price of $0.135 per FT Share. Proceeds raised from the issuance of the FT Shares will be used by Forum to conduct a 2,000 metre drill program on its Nunavut Uranium Project in July, 2023 and mobilization of equipment and supplies in preparation for a 2024 drill program. Forum holds a 100% interest in 95,000 hectares of highly prospective ground for high grade, unconformity-style uranium deposits in the Thelon Basin, a geological analogue to the Athabasca Basin in Saskatchewan.
The private placement is subject to approval by the TSX Venture Exchange and all FT Shares are subject to a four-month hold period. Proceeds raised from the […]
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