New Issue: Fission raises C$11.5 million in private placement of stock

By Devika Patel

Knoxville, Tenn., Nov. 15 - Fission Energy Corp. said it has closed a previously announced private placement of shares, raising C$11.5 million. The deal was announced on Oct. 18 and priced for C$10.01 million with a 15% greenshoe on Oct. 30.

The company sold 6,572,000common shares at C$0.70 per share, for C$4,600,400, and 8,415,000 flow-through shares at C$0.82 per share, for C$6,900,300.

The syndicate of agents was led by Cormark Securities Inc. and included Raymond James Ltd.

The agents received a cash commission of $537,610 plus expenses and 700,600 broker warrants. Each broker warrant is exercisable for one common share at the issue price of the common shares in the offering for 18 months.

Proceeds will be used for exploration and for general working capital.

Based in Kelowna, B.C., Fission is a uranium exploration and development company with properties in Saskatchewan's Athabasca basin, Alberta, Quebec and an international property in Peru.

Issuer:	Fission Energy Corp.
Issue:	Common shares, flow-through shares
Amount:	C$11,500,700
Warrants:	No
Agents:	Cormark Securities Inc. (lead), Raymond James Ltd.
Fees:	$537,610 in cash, 700,600 warrants
Announcement date:	Oct. 18
Pricing date:	Oct. 30
Settlement date:	Nov. 15
Stock symbol:	TSX Venture: FIS
Stock price:	C$0.76 at close Oct. 29
Common shares
Amount:	C$4,600,400
Shares:	6,572,000
Price:	C$0.70
Flow-through shares
Amount:	C$6,900,300
Shares:	8,415,000
Price:	C$0.82

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.