Closing of Flow-Through Financing
First American Uranium Announces
Closing of Oversubscribed $2.86m Flow-Through Financing
- NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES -
Vancouver, British Columbia – November 18, 2025 – First American Uranium Inc. (CSE: NIOB )
(FSE: IOR) (OTCQB: NIOMF) (the “Company”) is pleased to announce, further to its news release of
November 6, 2025, that the Company has closed the previously announced non-brokered private placement
of flow-through common shares in the capital of the Company (each, an “FT Share”) by the issuance of
2,073,262 FT Shares at $1.38 per FT Share for gross proceeds of $2,861,101.56, exceeding the proposed
amount previously announced (the “Oversubscribed Offering”).
The gross proceeds from the issuance of the FT Shares will be used to incur eligible “Canadian exploration
expenses” in Quebec that qualify as “flow-through critical mineral mining expenditures” as such terms are
defined in the Income Tax Act (Canada). The Company has agreed to renounce such qualifying expenditures
with an effective date of no later than December 31, 2025, in an amount of not less than the total amount of
the gross proceeds raised from the issuance of FT Shares, and incur such expenses by December 31, 2026.
In connection with the Oversubscribed Offering, the Company paid finder’s fees to eligible finders
consisting of $194,674.31 in cash and 141,068 common share purchase warrants (the “Finder’s Warrants”).
Each Finder’s Warrant is exercisable to acquire one common share in the capital of the Company at an
exercise price of $1.38 per for a period of 24 months from the date of issuance.
Additionally, an insider of the Company subscribed for a total of 36,000 FT Shares under the Oversubscribed
Offering (the “ Insider Subscription”). The Insider Subscription constitutes a “related party transaction”
within the meaning of Multilateral Instrument 61 -101 – Protection of Minority Securityholders in Special
Transactions (“MI 61-101”). The Company has relied on the exemptions from the formal valuation and
minority shareholder approval requirements of MI 61- 101 contained in sections 5.5(b) and 5.7(1)(a),
respectively, in respect of the Insider Subscription as the Company is not listed on a specified market and
the fair market value of the FT Shares issued pursuant to the Insider Subscription does not exceed 25% of
the market capitalization of the Company, as determined in accordance with MI 61 -101. The Company did
not file a material change report in respect of the related party transaction at least 21 days before the closing
of the Oversubscribed Offering, which the Company deems reasonable in the circumstances in order to
complete the Oversubscribed Offering in an expeditious manner.
All securities issued in connection with the Oversubscribed Offering are subject to a statutory hold period
of four months plus a day ending on March 18 , 2026, in accordance with applicable securities legislation
and policies of the Canadian Securities Exchange (“CSE”).
The Company intends to use the net proceeds from the Oversubscribed Offering to fund exploration work
programs, mineral property acquisitions, marketing and for general working capital purposes.
“The overwhelming demand for this financing is an exciting validation of the work we’re doing and the
potential that our Quebec exploration portfolio continues to show ,” said Murray Nye, CEO of First
American Uranium. “Our primary objective during this period is to generate substantial value for our
shareholders in the coming months through focused and strategic exploration efforts. We are confident that
this next phase will yield promising results . We will keep you informed of our progress as we move
forward.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the
United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful. The securities being offered have not been, nor will they be, registered under
the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration requirements of the 1933 Act, as
amended, and applicable state securities laws.
ABOUT FIRST AMERICAN URANIUM INC.
First American Uranium Inc. is a North American mineral exploration company focused on the acquisition
and development of precious, base, and critical mineral assets. Its portfolio includes the Silver Lake
property in British Columbia’s Omineca Mining Division and a recently acquired land package in Quebec’s
Grenville Province. The Quebec properties add exposure to rare earth elements (REE), niobium (Nb), and
nickel-copper (Ni -Cu) occurrences, expanding the Company’s footprint into critical minerals that ar e
strategically important for energy and defense applications.
ON BEHALF OF THE BOARD OF DIRECTORS:
Murray Nye
Chief Executive Officer
1055 West Georgia Street, Suite 1500
Vancouver, BC V6E 0B6
Canada
For further information, please contact:
Murray Nye, CEO
Email: [email protected]
Phone: +1 (647) 984-4204
CSE:NIOB
OTCQB: NIOMF
FSE:IOR
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This news release includes "forward-looking information" that is subject to a number of assumptions, risks
and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may
include but are not limited to the use of proceeds and available funds following the completion of the
Oversubscribed Offering and are subject to all of the risks and uncertainties normally incident to such
events. Investors are cautioned that any such statements are not guarantees of future events and that actual
events or developments may differ materially from those projected in the forward-looking statements. Such
forward-looking statements represent management's best judgment based on information currently
available. No securities regulatory authority has either approved or disapproved of the contents of this
news release. The Company undertakes no obligation to update publicly or otherwise revise any forward-
looking statements, except as may be required by law.