Forum Closes First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - June 30, 2021) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or the "Company") announces that it has closed the first tranche of its non-brokered private placement announced on June 24, 2021. The Company raised $500,000 through the issuance of 1,111,112 flow through units priced at $0.45 per unit. Each unit consists of one flow through common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.57 for up to two years expiring June 29, 2023.
The Company paid $35,000 and issued 77,778 finder warrants. The finder warrants are priced at $0.45 for a term of 2 years expiring June 29, 2023.
All securities issued are subject to a four month hold period expiring October 30, 2021.
Proceeds will be used for further exploration of the Company's uranium, copper, nickel and palladium projects in Saskatchewan.
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) has three 100% owned energy metal projects being drilled in 2021 by the Company and its major mining company partners Rio Tinto and Orano for copper/silver, uranium and nickel/platinum/palladium in Saskatchewan, Canada's Number One Rated mining province for exploration and development. In addition, Forum has a portfolio of seven drill ready uranium projects and a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo
President & CEO
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