First American Uranium Announces Closing of Final Tranche of Oversubscribed Non-Brokered Private Placement of Shares

Executive Summary

• First American Uranium Inc. closed the third and final tranche of its non‑brokered private placement, issuing 4,761,792 common shares at $0.30 per share for gross proceeds of $1,428,537.60.
• Total capital raised to date under the offering now totals $2,403,537.70, exceeding the originally proposed amount.
• Net proceeds are earmarked for exploration programs, mineral property acquisitions, marketing activities, and general working capital.

Key Details

• Shares Issued (Third Tranche): 4,761,792 common shares at $0.30 per share.
• Gross Proceeds (Third Tranche): $1,428,537.60.
• Total Gross Proceeds (All Tranches): $2,403,537.70.
• Finder’s Compensation: $69,925.63 paid in cash plus 233,085 common share purchase warrants issued to eligible finders.
• Finder’s Warrants Terms: Each warrant allows the purchase of one share at an exercise price of $0.30 per share; exercisable for 24 months from issuance date.
• Statutory Hold Period: All securities from the First Tranche are subject to a four‑month plus one day hold period, ending February 2, 2026.
• Use of Proceeds: Funding exploration work programs, acquiring additional mineral properties, marketing efforts, and general working capital.

Notable Quotes

“Murray Nye” – Chief Executive Officer

(No additional quotes provided in the release.)