Forum Uranium Corp.

TSX VENTURE : FDC


Forum Uranium Corp.

March 06, 2014 08:30 ET

Forum Uranium Corp. Announces $3 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 6, 2014) - Forum Uranium Corp. (TSX VENTURE:FDC) (the "Company") is pleased to announce that it has engaged Secutor Capital Management Corporation (the "Agent") to act as lead agent in connection with a private placement of up to 3,636,363 flow-through units ("FT Units") at a price of $0.55 per FT Unit for gross proceeds of up to $2,000,000 and up to 2,000,000 units ("Units") at $0.50 per Unit for gross proceeds of up to $1,000,000.

Each FT Unit will consist of one flow-through common share and one half of one non flow-through common share purchase warrant in the capital of the Company. Each whole share purchase warrant (a "Warrant") is exercisable into one common share of the Company for a period of 12 months from closing at a price of $0.70 per common share.

Each Unit will consist of one common share and one half of one common share purchase warrant in the capital of the Company. Each share purchase warrant (a "Warrant") is exercisable into one common share of the Company for a period of 12 months from closing at a price of $0.65 per common share.

On closing the Company will grant to the Agent an over-allotment option to increase the size of the offering by 10% of the FT Units and Units that are purchased under the private placement. The option is exercisable in whole or in part for a period of 30 days from closing on the same terms as set forth above solely to cover over-allotment.

The Company will pay to the Agent a cash commission of 7% of the gross sales of FT Units and Units and issue to the Agent 7% of the number of FT Units and Units sold in Compensation Options, with each Compensation Option being exercisable for 12 months at a price of $0.50.

All the securities issuable will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange.

The proceeds received from the FT Units will be used by the Company to incur qualified Canadian Exploration Expenses and the proceeds raised by the issuance of Units will be utilized for exploration of the Company's uranium projects in the Athabasca Basin, corporate development and general and administrative purposes.

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.

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