01:38 PM EDT, 10/16/2025 (MT Newswires) -- Forsys Metals ( FOSYF ) on Thursday closed a bought-deal private placement that raised $18.92 million, including the partial, $1.92 million, exercise of the underwriters' over-allotment option.

The company sold 33.8-million units priced at $0.56 each and made up a share and one half of a three-year warrant to buy a second share for $0.80. T

An insider of the company purchased 8.93-million units as part of the offering.

The company plans to use the net proceeds to fund the advancement of its Norasa Project in Namibia and for working capital and general corporate purposes.

The company's shares were last seen down $0.0225 to $0.4675 on the Toronto Stock Exchange.

Price: 0.47, Change: -0.02, Percent Change: -4.49