First American Uranium Inc. Announces Successful Closing of First Tranche of Private Placement
First American Uranium Inc., a Canadian-based company operating in the uranium mining industry, has announced the successful closing of the first tranche of its non-brokered private placement of shares. The company, which is listed on the Canadian National Stock Exchange, primarily operates in the Athabasca region of Saskatchewan, Canada, where it owns several uranium projects.
On August 29, 2025, First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK: FAUMF) disclosed that it had issued 1,639,000 common shares at a price of $0.30 per share, resulting in gross proceeds of $491,700.10. This marks the completion of the first tranche of the previously announced private placement. The company has indicated plans to close a second tranche of the offering in the coming weeks.
In connection with this transaction, the company has paid finder’s fees to eligible finders, amounting to $23,079.00 in cash and 25,830 common share purchase warrants. Each of these Finder’s Warrants is exercisable to acquire one share at an exercise price of $0.30 per share, valid for a period of 24 months from the date of issuance.
All securities issued as part of the first tranche are subject to a statutory hold period, which will end on December 30, 2025. This hold period is in accordance with applicable securities regulations.
As of August 27, 2025, the close price of First American Uranium Inc.’s shares was $0.49 CAD. The company’s market capitalization stands at 3,000,559 CAD, with a price-to-earnings ratio of 126.22. Over the past year, the company’s share price has fluctuated between a high of $0.70 CAD on August 12, 2025, and a low of $0.089999 CAD on March 3, 2025.