VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 14, 2013) - Forum Uranium Corp. (TSX VENTURE:FDC) ("Forum" or the "Company") announces a non-brokered private placement of $2,000,000 through the issuance of a combination of units (the "Units") at a price of $0.35 per Unit and flow through common shares (the "Flow Through Shares") at a price of $0.45 per Flow Through Share. Each "Unit" will be comprised of one common share and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable to purchase one Forum common share at a price of $0.49 per share for a period of two years from the date of the close 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, in accordance with the policies of the TSX Venture Exchange.
Proceeds from this financing will be used for drilling on the NW Athabasca project and for general working capital.
About Forum Uranium
Forum Uranium Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of Canadian uranium and rare earth projects. 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 in the Athabasca Basin, Saskatchewan and the Thelon Basin, Nunavut by exploring on its 100% owned properties and through strategic partnerships and joint ventures. The Company is also evaluating North American rare earth prospects in Quebec and Nunavut.
ON BEHALF OF THE BOARD
Richard J. Mazur, P.Geo., President & CEO