First American Uranium closes oversubscribed private placement

First American Uranium Inc. (CSE: URM) completed the final tranche of its non-brokered private placement, raising $1,428,537.60 through the issuance of 4,761,792 common shares at $0.30 per share.

The Vancouver-based mineral exploration company raised a total of $2,403,537.70 across all tranches of the offering, exceeding the originally proposed amount. The company previously announced the first two tranches in August and September 2025.

In connection with the final tranche, First American Uranium paid finder's fees totaling $69,925.63 in cash and issued 233,085 common share purchase warrants. Each warrant allows the holder to purchase one share at $0.30 for 24 months from the issuance date.

All securities from the offering are subject to a statutory hold period ending February 2, 2026, in accordance with Canadian Securities Exchange policies and applicable securities legislation.

The company stated it intends to use the net proceeds for exploration work programs, mineral property acquisitions, marketing activities, and general working capital purposes.

First American Uranium focuses on mineral exploration and acquisition of mineral properties in North America. The company's primary asset is the Silver Lake property, located approximately 30 kilometers southeast of Houston, British Columbia, in the Omineca Mining Division.

The information is based on a press release statement from the company.

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