Forum Closes $3 Million Flow Through Share Private Placement

Investing News Network

June 21, 2023

Forum Energy Metals Corp. ( TSXV: FMC ) (OTCQB: FDCFF) ("Forum" or the "Company") announces that it has closed its previously announced non-brokered private placement for proceeds of $2,999,923 through the issuance of 22,221,649 flow through shares (the "FT Shares") at a price of $0.135 per FT Share (see news release dated May 24, 2023). Forum holds a 100% interest in 95,000 hectares of ground that Cameco Corporation extensively drilled from 2008 to 2012 adjacent to Orano’s 133 million pound Kiggavik uranium deposit in the Thelon Basin. A 2,000 metre drill program will commence in July, 2023 (Figure1).

Dr. Rebecca Hunter, Forum’s VP, Exploration stated, "Forum’s Nunavut Uranium Project in the Thelon Basin is a geologic analogue to the prolific Athabasca Basin for high grade, unconformity style uranium deposits. Our ground includes two uranium deposits, in addition to over 20 highly prospective targets. […]

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