08:25 AM EST, 11/18/2025 (MT Newswires) -- First American Uranium ( NIOMF ) said Tuesday that it raised C$2.9 million after closing a private placement of flow-through shares.

The offering comprised 2,073,262 flow-through shares priced at $1.38 each.

First American Uranium ( NIOMF ) said it will use the proceeds 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," Chief Executive Officer Murray Nye said. "Our primary objective during this period is to generate substantial value for our shareholders in the coming months through focused and strategic exploration efforts."

First American Uranium's ( NIOMF ) portfolio includes the Silver Lake property in British Columbia and a rare earths-prospective land package in Quebec's Grenville province.

The company's share price closed 2.9% lower on Monday to $1.36 per share on the Canadian Securities Exchange.