Forum Announces $225,000 Non-brokered Private Placement
Vancouver, August 16, 2018 - Forum Energy Metals Corp. (TSXV: FMC) is pleased to announce a non-brokered private placement of up to 4,500,000 units ("Unit") at a price of $0.05 per Unit for total proceeds of $225,000. Each Unit will be comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.10 per share for a period of 18 months from the date of closing of the financing.
The private placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder's fees will be payable in connection with the private placement, all in accordance with the policies of the TSX Venture Exchange.
The proceeds from this financing will be used for exploration of the Company`s Janice Lake copper project, acquisition of cobalt assets in Idaho and Oregon and working capital.
About Forum Energy Metals
Forum Energy Metals Corp. (TSXV: FMC) explores for energy metals, most notably copper and uranium in Saskatchewan, Canada's Number 1 mining province, and is evaluating other energy metals opportunities in North America. In addition, Forum is well positioned for when the uranium market rebounds with interests in 7 drill ready projects in the Athabasca Basin, all assembled by a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada.
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.
For further information contact:
Rick Mazur, President & CEO
mazur@forumenergymetals.com
Tel: 604-630-1585
Craig Christy, VP Corporate Development
cchristy@forumenergymetals.com
Tel: 250-863-0561
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
