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Forsys Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$18.9 Million
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About this update from Forsys Metals Corp.
[{"type":"text","content":"Forsys Announces Closing of Bought Deal LIFE Private Placement for Gross Proceeds of C$18.9 Million\n\n\n\n\n NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.\n \n\n\n TORONTO, Oct. 16, 2025 (GLOBE NEWSWIRE) --\n \n Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY)\n \n\n (“Forsys” or the “Company”)\n \n\n\n Forsys is pleased to announce the closing of its previously announced “bought deal” private placement (the “\n \n Offering\n \n ”) for gross proceeds of C$18,925,760, which includes the partial exercise of the over-allotment option for gross proceeds of C$1,925,280. Pursuant to the Offering, the Company sold 33,796,000 units of the Company (the “\n \n Units\n \n ”) at a price of C$0.56 per Unit (the “\n \n Offering Price\n \n ”). The Offering was conducted pursuant to the terms of an underwriting agreement entered into between the Company and Red Cloud Securities Inc. (“\n \n Red Cloud\n \n ”), where Red Cloud acted as sole underwriter and bookrunner under the Offering.\n \n\n Each Unit consists of one class A common share of the Company (each, a “\n \n Unit Share\n \n ”) and one-half of one class A common share purchase warrant (each whole warrant, a “\n \n Warrant\n \n ”). Each whole Warrant entitles the holder to purchase one class A common share of the Company (each, a “\n \n Warrant Share\n \n ”) at a price of C$0.80 at any time on or before October 16, 2028.\n \n\n The Company intends to use the net proceeds of the Offering to fund the advancement of the Company’s Norasa Project in Namibia and for working capital and general corporate purposes, as is more fully described in the Amended Offering Document (as defined herein).\n \n\n In accordance with National Instrument 45-106 -\n \n Prospectus Exemptions\n \n (“\n \n NI 45-106\n \n ”), the Units were issued pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 –\n \n Exemptions from Certain Conditions of the Listed Issuer Financing Exemption\n \n (the “\n \n Listed Issuer Financing Exe...