First American arranges $2.5-million private placement

Executive Summary

• First American Uranium Inc. announced a non‑brokered private placement of up to 1,811,594 flow‑through common shares at $1.38 per share, targeting gross proceeds of up to $2.5 million.
• The proceeds will be used to fund eligible Canadian exploration expenses in Quebec, with the company committing to renounce an equal amount of qualifying expenditures by Dec 31, 2025 and incur them by Dec 31, 2026.
• Finders’ fees and warrants (up to 7 % of gross proceeds or shares sold) are included in the offering structure.

Key Details

• Offering Size: Up to 1,811,594 flow‑through common shares.
• Price per Share: $1.38 CAD (flow‑through).
• Maximum Gross Proceeds: Approximately $2.5 million CAD.
• Use of Proceeds: To incur eligible Canadian exploration expenses in Quebec that qualify as flow‑through mining expenditures; renunciation commitment effective no later than Dec 31, 2025 for an amount not less than the gross proceeds, with actual spending by Dec 31, 2026.
• Finders’ Compensation:
• Up to 7 % of gross proceeds payable as finders’ fees to eligible introducers.
• Issuance of non‑transferable finders’ warrants equal to up to 7 % of the number of FT shares sold; each warrant allows purchase of one non‑flow‑through common share at $1.38 per share for a 24‑month period from issuance.
• Regulatory Conditions: Closing subject to corporate and regulatory approvals, including CSE clearance; no minimum subscription amount required.
• Statutory Hold Period: All securities issued are subject to a hold period of four months plus one day from the date of issuance per applicable securities legislation and CSE rules.
• CEO Quote: “This flow‑through financing provides us with the resources to advance our exploration programs in Quebec in a meaningful way… we’re encouraged by the strong investor interest and look forward to accelerating work on our properties.” – Murray Nye, CEO

Notable Quotes

“This flow-through financing provides us with the resources to advance our exploration programs in Quebec in a meaningful way,” said Murray Nye, chief executive officer of First American Uranium. “We’re encouraged by the strong investor interest and look forward to accelerating work on our properties as we continue to unlock the potential of our critical minerals portfolio.”