Forsys Announces Upsize of Bought Deal LIFE Private Placement for Gross Proceeds of C$17.0 Million

Executive Summary

• Forsys Metals upsized its previously announced private‑placement “bought‑deal” from C$10.0 M to C$17.0 M gross proceeds.
• Red Cloud Securities will purchase 30,358,000 units at C$0.56 per unit, with an over‑allotment option for up to an additional 5,358,000 units (up to C$3.0 M).
• Net proceeds are earmarked to advance the Norasa Uranium Project in Namibia and for working capital/general corporate purposes.

Key Details

• Offering Size: Gross proceeds increased to C$17,000,480 (from C$10,000,480).
• Units Offered: 30,358,000 units at C$0.56 per unit.
• Unit Composition: Each unit = 1 Class A common share + ½ of a Class A common share purchase warrant.
• Warrant Terms: Whole warrant allows purchase of one Class A common share at C$0.80, exercisable up to 36 months after the Closing Date.
• Over‑Allotment Option: Red Cloud may purchase up to an additional 5,358,000 units at the same price, providing up to C$3,000,480 extra gross proceeds.
• Use of Proceeds: Funding for advancement of the Norasa Project (Namibia) and for working capital/general corporate purposes.
• Closing Date: Expected on October 16, 2025, subject to customary conditions and TSX approval.
• Regulatory Exemptions: Units offered under the Listed Issuer Financing Exemption in Canadian provinces; offshore/U.S. sales only via applicable exemptions.
• Trading Rights: Unit shares and warrant shares expected to be freely tradeable immediately for Canadian‑resident purchasers; other securities subject to a hold period expiring 4 months + 1 day after closing.

Notable Quotes

(No direct quotes were included in the release.)