Forsys Metals arranges $10-million private placement

Executive Summary

• Forsys Metals Corp. entered a bought‑deal private placement with Red Cloud Securities to sell 17,858,000 units at C$0.56 per unit, targeting gross proceeds of $10,000,480.
• Each unit includes one Class A common share and half of a Class A purchase warrant (full warrant allows purchase of one share at $0.80 for up to 36 months).
• An overallotment option permits Red Cloud to buy up to an additional 3,572,000 units for up to $2,000,320, potentially raising total gross proceeds to ~$12 M.

Key Details

• Units Offered: 17,858,000 (plus up‑to 3,572,000 under overallotment).
• Price per Unit: C$0.56 (≈ US$0.56).
• Gross Proceeds: $10,000,480; additional possible proceeds $2,000,320 (total ≈ $12 M).
• Unit Composition: 1 Class A common share + ½ of a Class A purchase warrant.
• Warrant Terms: One full warrant = right to buy one Class A share at $0.80; exercisable any time up to 36 months after closing.
• Overallotment Option: Up to 48 hours before closing, Red Cloud may purchase additional units at the same price.
• Use of Proceeds: Finance advancement of the Norasa uranium project in Namibia; working capital and general corporate purposes.
• Offering Exemptions: Sold under NI 45‑106 listed issuer financing exemption to Canadian investors (BC, AB, MB, SK, ON, with consent for QC); may also be offered offshore and in the U.S. under applicable exemptions.
• Trading Rights: Units expected to be freely tradable immediately for Canadian purchasers; other securities subject to a hold period of 4 months + 1 day.
• Closing Date: Scheduled for Oct. 16, 2025 (or earlier/later by mutual agreement).
• Conditions to Completion: Required approvals including Toronto Stock Exchange listing approval.

Notable Quotes

(No executive quotes provided in the release.)