Forsys Announces Non-Brokered Private Placement

2018-09-07 / @nasdaq

TORONTO, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that it intends to raise up to C$550,000 in gross proceeds by way of a non-brokered private placement of up to 3,235,294 units (the “Units”) at a subscription price of $0.17 per Unit.

Each Unit will consist of one Class A Common Share (“Common Share”) and one half of one Common Share purchase warrant, whereby each full warrant entitles the holder to acquire a new Common Share in Forsys at a price of $0.23 for a period of two years from the date of issue.

Proceeds from the private placement will be used to continue to fund the Norasa Uranium project in Namibia, as well as for general working capital purposes.

All securities issued through the private placement will be subject to a four-month and one-day hold period from the date of the closing. Completion of the private placement is subject to customary approvals and conditions.

For further details visit the Company`s website at www.forsysmetals.com or the Company`s filings on SEDAR at www.sedar.com.

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: 152.6m

On behalf of the Board of Directors of Forsys Metals Corp. Marcel Hilmer, Chief Executive Officer.

For additional information please contact:

Marcel Hilmer, Chief Executive Officer
Telephone: +61 417 177 942 or Email: mhilmer@forsysmetals.com