| ||Tue Dec 22, 2009|
Forum Announces Closing Of Private Placement
| ||Vancouver, B.C., December 22, 2009. Forum Uranium Corp (FDC: TSX-V) is pleased to announce that it has closed its non-brokered private placement previously announced on December 10, 2009. The Company has raised $722,000 through the issuance of 6,016,666 flow through common shares at a price of $0.12 per share. The proceeds will be used for drilling at the Company's Key Lake Road Project in the Athabasca Basin, Saskatchewan.|
The Company paid finder's fees of $25,200 and issued 210,000 warrants exercisable to purchase one common share at a price of $0.20 for a period of one year expiring December 16, 2010. All securities issued in the private placement are subject to a four month hold period expiring April 17, 2010.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium projects in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. Forum has assembled a highly experienced team of exploration professionals with a track record of mine discoveries for unconformity-style uranium deposits in Canada. The Company has a strategy to discover near surface uranium deposits nearby existing infrastructure by exploring on its 100% owned properties and through strategic partnerships and joint ventures.
ON BEHALF OF THE BOARD
Richard J. Mazur, P.Geo.
President & CEO
Neither 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:
President & CEO
FORUM URANIUM CORP.
910-475 Howe Street
Vancouver, BC V6C 2B3
You can view the Next News Releases item: Mon Feb 1, 2010, Forum Begins Drilling On The Costco Zone, Key Lake Road Project, Athabasca Basin
You can view the Previous News Releases item: Tue Dec 15, 2009, Forum To Drill Up To 15 Holes On The Key Lake Road Project, Athabasca Basin
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