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

Core Points - First American Uranium Inc. has successfully closed the third tranche of its non-brokered private placement, issuing 4,761,792 shares at $0.30 per share, resulting in gross proceeds of $1,428,537.60, bringing the total raised under the offering to $2,403,537.70, exceeding the initial target [1][2] Group 1 - The third tranche involved the payment of finder's fees totaling $69,925.63 in cash and 233,085 common share purchase warrants, each exercisable at $0.30 for 24 months [2] - All securities from the first tranche are subject to a statutory hold period of four months plus a day, ending on February 2, 2026, in compliance with Canadian securities legislation [3] - The net proceeds from the offering will be allocated for exploration work programs, mineral property acquisitions, marketing, and general working capital [3] Group 2 - First American Uranium Inc. focuses on mineral exploration and acquisition of mineral property assets in North America, aiming to develop economic precious and base metal properties, particularly on the Silver Lake property located in British Columbia [5]