By Susanna Moon
Chicago, May 28 - Fission Energy Corp. announced a non-brokered private placement to sell on a best-efforts basis up to C$3 million of units and C$2 million of flow-through units.
The units are priced at C$0.30 each and the flow-through units at C$0.35 each.
Each unit consists of one common share and one warrant exercisable at C$0.40 for two years. Each flow-through unit consists of one flow-through common share and one half-share purchase warrant, with each whole warrant exercisable at C$0.45 for two years.
The offering is expected to close on June 30.
Proceeds from the flow-through offering will be used to incur eligible Canadian exploration expenses, which will be renounced in favor of the purchasers for the 2009 taxation year. Proceeds from the sale of the common shares will be used to advance development of the company's properties 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: | Units of one share and one warrant; flow-through units of one flow-through share and one half-share warrant
|
| Amount: | C$5 million
|
| Agent: | Non-brokered
|
| Pricing date: | May 28
|
| Settlement date: | June 30
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.34 at close May 27
|
|
|
| Units
|
| Amount: | C$3 million
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant strike price: | C$0.40
|
| Warrant expiration: | Two years
|
|
|
| Flow-through units
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| Amount: | C$2 million
|
| Price: | C$0.35
|
| Warrants: | One half-share per unit
|
| Warrant strike price: | C$0.45
|
| Warrant expiration: | Two years
|
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