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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 Ventur