Vancouver,
B.C., August 18, 2009. Forum Uranium Corp (FDC: TSX-V) is pleased to
announce that it has closed the final tranche of its private placement
previously announced on July 23, 2009 and August 11, 2009. The Company has
raised an additional $170,000 through the issuance of 1,700,000 Flow
Through Common Shares at a price of $0.10. The private placement was
oversubscribed by $45,000 for an additional 450,000 Flow Through Shares.
Finder's fees were paid on this portion of the financing in the
amount of a commission of $8,750 and 87,500 broker's warrants, each warrant
entitling the holder to purchase one additional common share at a price of
$0.10 within one year expiring August 17, 2010. All securities issued in
the final tranche of the private placement are subject to a four month hold
period expiring December 18, 2009.
The total funds raised in this financing were $295,000 through the
issuance of a total of 2,950,000 Flow Through Common Shares.
Proceeds from this financing will be used for drilling at the
Company's Key Lake Road Project in the Athabasca Basin, Saskatchewan,
located 30
kilometres south of the Cameco/AREVA
Key Lake mine/mill complex in the Athabasca Basin, Saskatchewan.
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.