Forum Energy Metals Corp.: Forum Announces $500,000 Private Placement and Stock Option Grant
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2021) - Forum Energy Metals Corp. (
TSXV: FMC) ("Forum" or "Company") announces that it intends to raise $500,000 by way of a flow through private placement (the "Offering") of 1,351,351 flow through units (a "Unit") at $0.37 per Unit, each Unit comprised of one flow through common share of the Company (a "Share") and one non-flow through warrant (a "Warrant"). Each Warrant entitles the holder to acquire one common share of the Company at a price of $0.42 per share for a term of 3 years.
Proceeds of the Offering will be used to incur qualifying expenses under the Income Tax Act on the Company's mineral exploration projects in Saskatchewan. Forum has increased its budget for drilling at its 100% owned Love Lake Nickel/Copper/Platinum/Palladium project and will conduct exploration on its Wollaston and Northwest Athabasca Joint Venture uranium projects. The Offering remains subject to receipt of all regulatory approvals including acceptance of the TSXV. The Shares and the Warrants will be subject to a hold period of 4 months in accordance with Canadian securities laws.