Forsys Metals Corp. (TSX:FSY) (FRANKFURT:F2T) (NAMIBIAN:FSY) today reported that it has closed its previously announced non-brokered private placement by issuing 15.34m units at $0.12 per unit for gross proceeds of $1.84m (CDN).
Each unit consists of one Class A Common Share and one half of one Common Share purchase warrant with each whole warrant entitling the holder to acquire a new Common Share in Forsys at a price of $0.24 expiring on October 13, 2017. All securities issued pursuant to the Private Placement are subject to a four-month and one-day hold period from the closing date. The finder’s fees on the Private Placement consist of 280,000 finder’s units, each unit consisting of one Common Share and one half of one Common Share purchase warrant with each whole warrant entitling the holder to acquire a new Common Share in Forsys at a price of $0.24 expiring on October 13, 2017.
Proceeds from the Private Placement will be used to fund the Norasa Uranium Project in Namibia and for general working capital purposes.
About Forsys Metals Corp.
Forsys Metals Corp. is an emerging uranium producer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa, a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company website. Shares outstanding: 134.9m
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