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Forsys Metals Announces C$1,000,000 Non-Brokered Private Placement
TORONTO, Jan. 17, 2020 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that it has r
About this update from Forsys Metals Corp.
[{"type":"text","content":" TORONTO, Jan. 17, 2020 (GLOBE NEWSWIRE) -- Forsys Metals Corp. (TSX: FSY) (FSE: F2T) (NSX: FSY) (“Forsys” or the “Company”) is pleased to announce that it has received a commitment from Leonardo Global Trading Ltd. (“Leo”), the Company’s largest shareholder, to raise C$1,000,000 in gross proceeds by way of a non-brokered private placement of 10 million Class A Common Shares (“Common Shares”) in the Company at a subscription price of C$0.10 per Common Share. Proceeds from the private placement will be used for general working capital purposes. The Offering is expected to close on or before January 24, 2020. All securities issued through the private placement will be subject to a four-month and one-day hold period from the date of the closing. Completion of the private placement is subject to customary approvals and conditions. About Forsys Metals Corp. Forsys Metals Corp. is an emerging uranium developer with 100% ownership of the Norasa project that comprises the fully permitted Valencia uranium project and the Namibplaas uranium project in Namibia, Africa, a politically stable and mining friendly jurisdiction. Information regarding current National Instrument 43-101 compliant Resource and Reserves at Valencia and Namibplaas are available on the Company’s website and under the Company’s filings on SEDAR. On behalf of the Board of Directors of Forsys Metals Corp. Mark Frewin, Interim Chief Executive Officer. For additional information please contact: Jorge Estepa, Corporate Secretary Telephone: (416) 818-4035 or Email: [email protected] Forward-Looking Information This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause Forsys actual results to differ materiall...