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

Core Points - First American Uranium Inc. has successfully closed the second tranche of a non-brokered private placement, issuing 1,611,000 common shares at a price of $0.30 per share, resulting in gross proceeds of $483,300 [1] - The company plans to close a third and final tranche of the offering by October 1, 2025 [1] Financial Details - In connection with the second tranche, the company paid finder's fees totaling $13,020 in cash and issued 43,400 common share purchase warrants, each exercisable at $0.30 for 24 months [2] - The net proceeds from the offering will be utilized for exploration work programs, mineral property acquisitions, marketing, and general working capital [3] Regulatory Information - All securities issued in the first tranche are subject to a statutory hold period of four months plus a day, ending on January 20, 2026, in accordance with Canadian securities legislation [3] - The offering is not available in the United States and has not been registered under the 1933 Act or any U.S. state securities laws [4] 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]