Forum Uranium Closes $500K Private Placement

Forum Uranium Corp (TSXV:FDC) announced that it raised $500,000 in a non-brokered private placement, having issued 1,176,470 common shares at $0.425 per flow through share.

As quoted in the press release:

The Company paid finder’s fees of $35,000 and issued 82,353 finder warrants exercisable at a price of $0.425 for a period of two years expiring April 23, 2015. All securities are subject to a four month hold period expiring August 24, 2013.

It also announced its plans to launch an airborne magnetic and electromagnetic survey on its Clearwater property near Patterson Lake.

According to the company’s press release:

The EM conductor hosting the uranium discoveries on the Alpha/Fission claims are interpreted to trend on to the Forum property. Alpha and Fission recently released assay results of 29.26% U₃O₈ over 10.5 metres at a second zone of three zones of mineralization discovered on the property along this fertile EM conductor.

Click here to read the full Forum Uranium Corp (TSXV:FDC) press release.