Offering funds drilling on the NW Athabasca project, working capital
By Toni Weeks
San Luis Obispo, Calif., March 8 - Forum Uranium Corp. said it raised C$312,700 in the third tranche of a C$2.5 million non-brokered private placement of units and stock. The deal priced for C$2 million Jan. 14 and was revised on Jan. 23. The company raised C$428,050 on Feb. 6, then increased the deal to C$2.5 million from C$2 million on Feb. 15, after which time it raised another C$1.61 million on Feb. 26.
The company is selling units of one common share and a warrant at C$0.35 per unit. Each warrant will be exercisable at C$0.49 for two years. Forum is also selling flow-through common shares at C$0.40 apiece, revised from the original price of C$0.45 per share.
The price per share is a 4.76% discount to the Jan. 11 closing share price of C$0.42. The warrant strike price is a 16.67% premium to that price.
In the first tranche, Forum sold 840,000 flow-through common shares and 263,000 units. It sold 411,250 flow-through common shares and 4,116,000 units in the second tranche. In the third tranche, the company sold 395,000 flow-through shares and 442,000 units.
Proceeds will be used for drilling on the NW Athabasca project and for general working capital.
Forum is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Forum Uranium Corp.
|
| Issue: | Units of one common share and a warrant, flow-through common shares
|
| Amount: | C$2.5 million
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 14
|
| Revised: | Jan. 23
|
| Upsized: | Feb. 15
|
| Settlement dates: | Feb. 6 (for C$428,050), Feb. 26 (for C$1,605,100), March 8 (for C$312,700)
|
| Stock symbol: | TSX Venture: FDC
|
| Stock price: | C$0.42 at close Jan. 11
|
| Market capitalization: | C$4.79 million
|
|
|
| Units
|
| Price: | C$0.35
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.49
|
|
|
| Flow-through shares
|
| Price: | C$0.40
|
| Warrants: | No
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
