First American Uranium Announces Closing of First Tranche of Non-Brokered Private Placement of Shares

Core Points - First American Uranium Inc. has successfully closed the first tranche of a non-brokered private placement, issuing 1,639,000 common shares at a price of $0.30 per share, resulting in gross proceeds of $491,700.10 [1] - The company plans to close a second tranche of the offering in the upcoming weeks [1] Financial Details - In connection with the first tranche, the company paid finder's fees totaling $23,079 in cash and issued 25,830 common share purchase warrants, each exercisable at $0.30 for a period of 24 months [2] - All securities from the first tranche are subject to a statutory hold period ending on December 30, 2025 [3] Use of Proceeds - The net proceeds from the offering will be utilized for exploration work programs, mineral property acquisitions, marketing, and general working capital purposes [3] Company Overview - First American Uranium Inc. is focused on mineral exploration and acquisition of mineral property assets in North America, with a specific interest in developing properties of merit [5] - The company's exploration programs are centered on the Silver Lake property, located approximately 30 km southeast of Houston, British Columbia [5]