VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 20, 2013) - Forum Uranium Corp. (TSX VENTURE:FDC) ("Forum" or the "Company") is pleased to announce that, due to strong response from investors, the Company has increased its non-brokered private placement financing to $900,000 from the initially targeted $500,000 as set out in the Company`s news release dated December 18, 2013. The amended financing will be completed through the issuance of a combination of flow through units (the "Flow Through Units") at a price of $0.37 per Flow Through Unit and flow through common shares (the "Flow Through Shares") at a price of $0.35 per Flow Through Share. Each "Flow Through Unit" will be comprised of one flow through common share and one share purchase warrant (a "Warrant"). Each Warrant is exercisable to purchase one non-flow through common share at a price of $0.50 per share for a period of two years from the date of the close of the financing.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four-month hold period. Finder's fees will be payable in connection with the private placement, in accordance with the policies of the TSX Venture Exchange.
Proceeds from this financing will be used for drilling on its Patterson Lake South Clearwater claims adjacent to the Fission PLS discovery in the western Athabasca Basin.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo., President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.