01:34 PM EDT, 08/14/2025 (MT Newswires) -- First American Uranium (URM.CN) was last seen down 18% on Thursday after the company said it will raise up to $2.4 million in a private placement of shares.

The company said it will look to place eight-million shares priced at $0.30 per share. The shares are currently trading down $0.11 to $0.49 on the Canadian Securities Exchange.

Proceeds are earmarked for exploration work programs, mineral property acquisitions, marketing and for general working capital purposes.

Closing of the offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE, the company said.

Price: 0.49, Change: -0.11, Percent Change: -18.33