Forsys Metals increases financing to $17-million

Executive Summary

• Forsys Metals upsized its bought‑deal private placement from C$10.0 M to C$17.0 M, issuing 30,358,000 units at C$0.56 per unit.
• The underwriter, Red Cloud Securities Inc., holds an overallotment option for up to an additional 5,358,000 units (≈C$3.0 M).
• Net proceeds will fund advancement of the Norasa uranium project in Namibia and support working capital/general corporate purposes.

Key Details

• Upsized Offering Size: Gross proceeds increased to C$17,000,480 (from C$10,000,480).
• Units Issued: 30,358,000 units at C$0.56 per unit. Each unit = 1 Class A common share + ½ Class A warrant.
• Warrant Terms: Whole warrant allows purchase of one Class A share at C$0.80, exercisable any time up to 36 months after closing.
• Overallotment Option: Red Cloud may purchase up to an additional 5,358,000 units at the offering price, providing up to C$3,000,480 extra gross proceeds; option exercisable up to 48 hours before closing.
• Use of Proceeds: Finance advancement of the Norasa uranium project (Namibia) and for working capital/general corporate purposes.
• Regulatory Framework: Offered under NI 45‑106 listed issuer financing exemption to Canadian investors in BC, AB, MB, SK, ON (and possibly QC); offshore/U.S. sales via applicable exemptions.
• Lock‑up/Hold Period: Units sold outside the exemption subject to a hold period of 4 months + 1 day from closing.
• Closing Date: Scheduled for Oct. 16, 2025, or earlier/later by mutual agreement; contingent on TSX approval and other conditions.
• Documentation: Amended offering document available on SEDAR+ and company website; investors urged to review before investing.

Notable Quotes

(No executive quotes were provided in the release.)