First American Announces Private Placement of Flow-Through Shares

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 $2,500,000.
• Proceeds will be used to fund eligible Canadian exploration expenses in Quebec, with a commitment to renounce and incur expenditures equal to the amount raised by December 31 2026.
• The offering includes finder‑fee arrangements (up to 7% of gross proceeds) and non‑transferable finder warrants for up to 7% of the shares sold, exercisable at $1.38 per share for 24 months.

Key Details

• Offering Size: Up to 1,811,594 flow‑through common shares (“FT Shares”).
• Price per FT Share: $1.38.
• Maximum Gross Proceeds: $2,500,000.
• Use of Proceeds: To incur eligible “Canadian exploration expenses” in Quebec that qualify as flow‑through mining expenditures; renunciation required by Dec 31 2025 for an amount not less than the gross proceeds, with actual spending by Dec 31 2026.
• Finder Compensation:
• Finder’s fees up to 7.0% of gross proceeds paid to eligible finders who introduce subscribers.
• Non‑transferable finder warrants covering up to 7.0% of the number of FT Shares sold; each warrant allows purchase of one non‑flow‑through common share at $1.38 for a period of 24 months from issuance.
• Closing Conditions: Subject to receipt of all required corporate and regulatory approvals (including CSE), no minimum subscription amount, and a statutory hold period of four months plus one day on issued securities.
• CEO Quote: Murray Nye stated the financing “provides us with the resources to advance our exploration programs in Quebec in a meaningful way” and expressed confidence in strong investor interest.

Notable Quotes

“This flow‑through financing provides us with the resources to advance our exploration programs in Quebec in a meaningful way,” – Murray Nye, CEO

Materiality Assessment: Material – Positive (the capital raise is material to the company’s ability to fund its exploration activities and represents a positive development for shareholders).