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 company paid finder's fees totaling $69,925.63 in cash and issued 233,085 common share purchase warrants, each exercisable at $0.30 for 24 months [2] - All securities from the offering are subject to a statutory hold period of four months plus a day, ending on February 2, 2026, in accordance with Canadian securities legislation [3] - The net proceeds from the offering will be utilized for exploration work programs, mineral property acquisitions, marketing, and general working capital [3] Group 2 - First American Uranium Inc. is focused on mineral exploration and acquisition of mineral property assets in North America, with a specific interest in developing economic precious and base metal properties [5] - The Silver Lake property, which the company is exploring, is located approximately 30 km southeast of Houston in the Omineca Mining Division, British Columbia [5]