First American Announces Private Placement of Flow-Through Shares

Core Viewpoint - First American Uranium Inc. is initiating a non-brokered private placement to raise up to $2,500,000 through the issuance of flow-through common shares at a price of $1.38 per share, aimed at advancing exploration programs in Quebec [1][5]. Group 1: Offering Details - The company plans to issue up to 1,811,594 flow-through common shares at $1.38 each, with gross proceeds expected to reach $2,500,000 [1]. - Finders' fees of up to 7.0% of the gross proceeds will be paid to eligible finders, along with non-transferable finders' warrants equivalent to 7.0% of the FT Shares sold [2]. - The proceeds will be allocated to eligible "Canadian exploration expenses" in Quebec, with a commitment to renounce qualifying expenditures by December 31, 2025 [3]. Group 2: Regulatory and Closing Conditions - The closing of the offering is contingent upon receiving necessary corporate and regulatory approvals, including from the Canadian Securities Exchange (CSE) [4]. - There is no minimum aggregate amount of subscriptions required for the offering, and all securities will be subject to a statutory hold period of four months plus a day from the issuance date [4]. Group 3: Company Overview - First American Uranium Inc. focuses on the acquisition and development of precious, base, and critical mineral assets, with properties in British Columbia and Quebec [6]. - The Quebec properties enhance the company's exposure to rare earth elements, niobium, and nickel-copper occurrences, which are vital for energy and defense applications [6].