Forum Announces $1,250,000 Financing with Strategic Investors

Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) (‘Forum’ or the ‘Company’) announces a non-brokered private placement of up to $1,250,000 through the issuance of a combination of shares (the ‘Shares’) at a price of $0.08 per Share and flow through units (the ‘FT Units’) at a price of $0.10 per FT Unit. Each FT 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 non-flow through common share at a price of $0.15 per warrant share for a period of 18 months from closing of the financing.

Proceeds raised from the issuance of the Shares will be used for general working capital and proceeds raised from the issuance of FT Units will be used by Forum to incur Canadian Exploration Expenses on its Canadian uranium properties and will be used as deemed appropriate for qualifying expenses for the critical mineral tax credit (CMETC).

The Company intends to pay finders fees in accordance with the policies of the TSX Venture Exchange. The private placement is subject to approval by the TSX Venture Exchange and all securities are subject to a four-month hold period.

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the ‘U.S. Securities Act‘) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. ‘United States’ and ‘U.S. person’ have the respective meanings assigned in Regulation S under the U.S Securities Act.

About Forum Energy Metals

Forum Energy Metals Corp.(TSXV: FMC) (OTCQB: FDCFF) is focused on the discovery of high-grade unconformity-related uranium deposits in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut. For further information: https://www.forumenergymetals.com.

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.

This press release contains forward-looking statements. Forward-Looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause Forum’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

Not for distribution to United States Newswire Services or for dissemination in the United States

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233907