Forum Arranges $500,000 Private Placement and Grants Stock Options
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/30/10 -- Forum Uranium Corp. (TSX VENTURE: FDC) is pleased to announce a non-brokered private placement of $500,000 through the issuance of flow through common shares at a price of $0.09 per share. Finders' fees will be payable on a portion of the private placement in accordance with the policies of the TSX Venture Exchange. The private placement is subject to regulatory approval.
Proceeds from this financing will be used for exploration on its properties in Nunavut and Saskatchewan.
The Company is also pleased to announce that, in accordance with the Company's stock option plan, it has granted to certain of its directors, officers and consultants incentive stock options to purchase up to an aggregate of 535,000 common shares exercisable on or before June 30, 2015 at a price of $0.15 per share.
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.
Contacts:
Forum Uranium Corp.
Rick Mazur
President & CEO
604-630-1585
604-689-3609 (FAX)
Forum Uranium Corp.
Mark Prosser
Corporate Communications
604-638-3947
604-689-3609 (FAX)
info@forumuranium.com
www.forumuranium.com