Forsys Metals Corp. Welcomes New Director and Funding News

Overview of Recent Developments at Forsys Metals Corp.

Forsys Metals Corp. (TSX: FSY) has recently made notable changes to its Board of Directors, alongside plans for a substantial private funding initiative. These developments mark a significant phase for the company as it continues to advance its ambitious Norasa Uranium Project in Namibia.

New Appointment to the Board

Effective immediately, Mr. Stefano Roma has been appointed as a member of Forsys Metals Corp.'s Board of Directors. This change comes after the resignation of Mr. Richard Parkhouse, who has been a valuable contributor to the company’s leadership team.

Background of Mr. Stefano Roma

Mr. Roma is well-regarded in the investment community, bringing a wealth of experience that spans over fifteen years of management in Forsys. His trading company remains the largest shareholder in the company, holding approximately 30% of the shares. Mr. Roma's career began at Arthur Andersen in Italy, transitioning through various prestigious roles, including Head of Equity Trading at ABN-AMRO Milan and his own asset management venture.

Remarks from the Chairman

In welcoming Mr. Roma, Forsys Chairman Mr. Martin Rowley expressed optimism about the fresh insights and strong commitment Mr. Roma will bring to the company. His extensive knowledge of capital markets is expected to greatly benefit Forsys as it progresses with the Norasa Uranium Project.

Private Placement Initiative

In a significant step towards funding its projects, Forsys Metals Corp. is initiating a private placement aimed at raising up to C$5,280,000. This non-brokered placement will involve issuing up to 10,560,000 units, each priced at C$0.50. Each unit will consist of one common share and a purchase warrant, giving investors an opportunity to acquire additional shares at C$0.75 over the next 24 months.

Opportunities for Management and Board Participation

Participation in this private placement will be primarily from Forsys management and Board members, demonstrating their commitment to the company’s growth. As part of the transaction, the company will adhere to the related party transaction guidelines as stipulated by the Multilateral Instrument 61-101, ensuring compliance and transparency.

Use of Proceeds from the Private Placement

The funds acquired through this private placement are earmarked for expanding the Norasa Uranium Project and meeting general working capital needs. This funding will be crucial as the project moves forward, underlining Forsys’s commitment to advancing its initiatives in a region known for its political and uranium-friendly climate.

About Forsys Metals Corp.

Forsys Metals Corp. is dedicated to developing uranium resources with a primary focus on its wholly owned Norasa Uranium Project in Namibia. This project includes the Valencia Uranium deposit and the Namibplaas Uranium deposit, both critical components of Forsys's uranium mining ambitions.

Contact Information

For more details or investor inquiries, please reach out to Richard Parkhouse, Investor Relations at Forsys Metals Corp. You can contact him at rparkhouse@forsysmetals.com or use info@forsysmetals.com. Additionally, Richard can be reached by phone at +44 7730493432.

Frequently Asked Questions

What recent changes have occurred at Forsys Metals Corp.?

Forsys announced the appointment of Mr. Stefano Roma to its Board of Directors and the resignation of Mr. Richard Parkhouse.

What is the purpose of the private placement?

The private placement aims to raise up to C$5,280,000 to support the Norasa Uranium Project and general operational expenses.

Who is Mr. Stefano Roma?

Mr. Roma is a seasoned professional with extensive experience in equity trading and asset management, holding a significant stake in Forsys.

How will the funds from the private placement be utilized?

The funds will primarily finance the advancement of the Norasa Uranium Project and support the company’s working capital.

How can investors contact Forsys Metals Corp.?

Investors can contact Richard Parkhouse via email at rparkhouse@forsysmetals.com or info@forsysmetals.com, or call at +44 7730493432.

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