First American Uranium raises up to $2.5 million in private placement

First American Uranium Inc. (CSE: NIOB) announced a non-brokered private placement offering of up to 1,811,594 flow-through common shares at $1.38 per share for gross proceeds of up to $2.5 million.

The Vancouver-based mineral exploration company will issue the shares as flow-through shares under Canadian tax regulations. The proceeds will fund eligible Canadian exploration expenses in Quebec that qualify as flow-through mining expenditures, with the company committing to renounce these expenditures by December 31, 2025, and incur the expenses by December 31, 2026.

First American Uranium will pay finders' fees of up to 7% of gross proceeds and issue non-transferable finders' warrants representing up to 7% of shares sold. Each warrant allows the holder to purchase one common share at $1.38 for 24 months from issuance.

The offering requires corporate and regulatory approvals, including from the Canadian Securities Exchange. Securities issued will have a four-month-plus-one-day statutory hold period. The offering has no minimum subscription requirement.

"This flow-through financing provides us with the resources to advance our exploration programs in Quebec in a meaningful way," said Murray Nye, Chief Executive Officer.

First American Uranium focuses on precious, base, and critical mineral assets. The company's portfolio includes the Silver Lake property in British Columbia and recently acquired properties in Quebec's Grenville Province targeting rare earth elements, niobium, and nickel-copper occurrences.

The company trades on the Canadian Securities Exchange under NIOB, OTCQB under NIOMF, and Frankfurt Stock Exchange under IOR.

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