Deal consists of two types of units with one-year half-share warrants
By Devika Patel
Knoxville, Tenn., March 26 - Forum Uranium Corp. said it completed a C$3.05 million private placement of units. The deal was conducted by lead agent Secutor Capital Management Corp. and priced for C$3 million with a 10% greenshoe on March 6.
The company sold 1.14 million units of one common share and one half-share warrant at C$0.50 per unit and 4,501,800 flow-through units of one flow-through common share and one half-share warrant at C$0.55 per unit.
The whole unit warrants are each exercisable at C$0.65 until March 26, 2015, and the whole flow-through unit warrants are each exercisable at C$0.70 until March 26, 2015. The strike prices reflect 32.65% and 42.86% premiums to the March 5 closing share price of C$0.49.
Proceeds will be used for exploration of the company's uranium projects in the Athabasca Basin, corporate development and general and administrative purposes.
Forum is a uranium exploration and development company based in Vancouver, B.C.
| Issuer: | Forum Uranium Corp
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$3,045,990, including C$45,990 greenshoe
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 26, 2015
|
| Agent: | Secutor Capital Management Corp. (lead)
|
| Pricing date: | March 6
|
| Settlement date: | March 26
|
| Stock symbol: | TSX Venture: FDC
|
| Stock price: | C$0.49 at close March 5
|
| Market capitalization: | C$13.95 million
|
|
|
| Units
|
| Amount: | C$570,000
|
| Units: | 1.14 million
|
| Price: | C$0.50
|
| Warrant strike price: | C$0.65
|
|
|
| Flow-through units
|
| Amount: | C$2,475,990
|
| Units: | 4,501,800
|
| Price: | C$0.55
|
| Warrant strike price: | C$0.70
|
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