FORUM URANIUM NEWS RELEASE
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NEWS RELEASE
FORUM ANNOUNCES
$3,000,000 BROKERED PRIVATE PLACEMENT
Vancouver, B.C. June 9, 2008. Forum Uranium Corp. (FDC:
TSX.V) (the "Company"), is pleased to announce that it has
retained Raymond James Ltd. and Deacon & Company Capital Markets Inc.
(collectively, the "Agents") to act as the Company's agents for a
brokered private placement financing. The Agents will be offering the
financing to a predetermined group of clients on a best efforts basis. The
offering will consist of up to 6,666,667 flow-through common shares ("FT
Shares") of the Company at a price of $0.45 per FT Share for total gross
proceeds of up to $3,000,000.
The Agents will receive a cash commission on the
sale of the FT Shares representing 8% of the gross proceeds. The Company will
also issue an Agent's Option equal to 8% of the number of FT Shares issued,
entitling the Agents to purchase that equivalent number of common shares of
the Company at a price of $0.45 per common share for a period of 18 months
following the date of closing of the financing. In accordance with securities
legislation currently in effect, the FT Shares and Agent's Option will be
subject to a hold period of four months plus one day from the date of closing
of the financing. The private placement is subject to acceptance by the TSX
Venture Exchange.
The proceeds of the sale of the FT Shares will be
used for exploration and development of the Company's Thelon and Athabasca
Basin uranium properties.
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
The TSX Venture Exchange
does not accept responsibility for the adequacy or accuracy of this release.
For further information
contact:
Timea Carlsen
Director of Corporate Relations
FORUM URANIUM CORP.
910-475 Howe Street
Vancouver, BC V6C 2B3
Tel: 604-638-3949
Fax: 604-689-3609
Email: info@forumuranium.com
Website: www.forumuranium.com
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