Vancouver, B.C., December 22, 2020. Forum Energy Metals Corp. (FMC: TSX-V) (the “Company” or “Forum”) announces that, further to its news releases of November 30, 2020 and December 7, 2020, it has closed its non-brokered private placement and raised $1,500,000 through the issuance of 15,000,000 units priced at $0.10 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.15 for two years expiring December 21, 2022. The Company paid $34,580 in cash commission and issued 345,800 finder warrants. The finder warrants are priced at $0.10 for a one year term expiring December 21, 2021. All securities are subject to a four month hold period expiring April 22, 2021.
Proceeds from the Offering will be used for working capital and non-flow through expenditures for new project generation, the Love Lake Nickel-Palladium project, the Janice Lake Copper JV with Rio Tinto and the Fir Island Uranium JV with Orano.
About Forum Energy Metals
Forum Energy Metals Corp (TSX.V: FMC) explores for energy metals, including copper, nickel, silver, platinum, palladium and uranium in Saskatchewan, Canada’s Number One mining province. In addition, Forum has also established a strategic land position in the Idaho Cobalt Belt. For further information: www.forumenergymetals.com
ON BEHALF OF THE BOARD OF DIRECTORS
Richard J. Mazur, P.Geo.
President & CEO