To: vireya who wrote (18194 ) 3/13/2006 7:50:50 PM From: Crossy Read Replies (1) | Respond to of 37387 re: Forum Developement Corp (FDC.V) C$0.51 - News biz.yahoo.com Forum Announces Closing of First Tranche of Private Placement Monday March 13, 6:02 pm ET VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 13, 2006) - Forum Development Corp. (TSX VENTURE:FDC - News) is pleased to announce that it has closed the first tranche of its brokered private placement previously announced on Feb. 9, 2006. The Company has raised a total of $3,904,800 through the issuance of 4,836,000 flow-through shares and 3,304,000 non-flow through units. Flow-through shares were sold at a price of 50 cents per common share. Non-flow-through units were sold at 45 cents per unit and comprise one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase an additional common share at a price of 55 cents at any time prior to September 6, 2007. ADVERTISEMENT Commissions were paid on a portion of the financing in the amount of $249,216 and 516,760 broker warrants were issued at 50 cents for one year. All securities issued pursuant to the private placement are subject to a four month hold period. Proceeds from this financing will be used for exploration on the Company's uranium properties located in the Athabasca Basin, Saskatchewan. Forum Development Corp. is a Canadian-based energy company with a focus on the acquisition, exploration and development of energy projects. The Company has a 100% interest in over 165,000 hectares of uranium exploration properties located in the prolific Athabasca Basin, Saskatchewan. Forum is also evaluating a Coalbed Methane (CBM) project in the Merritt Coalfield in southern British Columbia. For further information about Forum, visit the Company's website at www.forumdevelopmentcorp.com. ON BEHALF OF THE BOARD Richard Mazur, P. Geo., President & CEO The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Contact: Doug Fosbrooke Forum Development Corp. Investor Relations (604) 685-6377 (604) 689-3609 (FAX) info@forumdevelopmentcorp.com www.forumdevelopmentcorp.com