Forum Energy Metals Corp (TSE:FMC) has released an update.
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Forum Energy Metals Corp. has inked an option agreement that could allow Global Uranium Corp. to acquire a majority stake in Forum’s share of the Northwest Athabasca Joint Venture. Global Uranium has the option to earn up to 75% of Forum’s 43.32% interest in the venture, with commitments to make payments and share issuances totaling over $4 million, and finance exploration costs up to $9 million by 2027. Throughout the initial option period, Forum will continue to operate the joint venture.
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