VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct 29, 2012) - Forum Uranium Corp. (TSX VENTURE:FDC) is pleased to announce that it has engaged CHF Investor Relations, a highly regarded Canadian investor relations firm headquartered in Toronto, as its IR partner.
"Successful drilling of Forum''s advanced targets will distinguish itself at a time when many industry experts are voicing bullish projections for uranium over the coming years," commented Richard Mazur, President and CEO of Forum Uranium Corp. "We look forward to working with CHF to leverage their extensive expertise and close ties with the investment community to benefit Forum and our shareholders."
Effective immediately, the services agreement for investor relations and market-making is for a term of twelve months to October 31st, 2013, and may be extended for up to one year. Under the terms of the services agreement, which is subject to TSX Venture Exchange approval, CHF will receive up to $7,500 per month in fees and reimbursement of expenses. CHF has been granted a total of 200,000 FDC stock options at an exercise price of $0.10 per share. The options vest quarterly over twelve months and have a five-year term. Upon termination of the services agreement, any vested options will be cancelled after 30 days, as is required for TSX Venture''s Tier 2 Issuers.
The market-making activity will be conducted using a registered broker in compliance with Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual (the "Manual"), IIROC''s Universal Market Integrity Rules & Policies (2010) and other relevant policies, so that trading orders in Forum''s shares are made to manage share price volatility and imbalances of orders in order to improve trading liquidity on the exchange. In accordance with Policy 3.4, section 2.8 of the Manual that states in part "an Issuer may not use its own funds, or provide direct or indirect compensation to other parties to undertake a market-making function in its securities," the Company and CHF confirm that capital for the purposes of market-making has not and will not be provided from the Company''s treasury.
Prior to the grant of options outlined above, CHF had no direct or indirect interest in the Company or its securities.
About CHF Investor Relations
CHF''s effective role is acting as the public company''s outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX/TSX Venture and CNSX listed companies, and others that may seek to list on North American Exchanges that operate in a broad range of industries including mining exploration and producers, oil & gas, renewable energy and industrial services, biotech, high-tech, business solutions and products, and niche financial products. The depth of capital market experience is formidable dating back to the late 1970''s.
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.
ON BEHALF OF THE BOARD
Richard J. Mazur, P.Geo., President & CEO