FormCap Corp. was pleased to announce today a Private Placement of up to 3.5 million units at $0.30 per unit for gross proceeds of $1,050,000. According to the terms, each unit will consist of one common share and one share purchase warrant.

Purchase warrants will entitle the holder to purchase one additional common share at $0.35 per share, but will expire two years after the date of issuance. Shares and warrants are subject to restrictions under Rule 144.

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