By Devika Patel
Knoxville, Tenn., July 29 - Fission Energy Corp. announced it has completed a non-brokered private placement, raising C$3.93 million.
The company raised C$2.01 million in the first tranche on July 7. It had planned to sell up to C$3 million of units and C$2 million of flow-through units in the deal, which priced May 28.
The company raised a total of C$2.37 million from the sale of 7.9 million common share units at C$0.30 each and C$1.56 million from the sale of 4,462,086 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.
MineralFields Group bought 2,285,714 flow-through units for C$800,000.
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 units 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 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$3,931,731
|
| Agent: | Non-brokered
|
| Investor: | MineralFields Group (for C$800,000)
|
| Pricing date: | May 28
|
| Settlement date: | July 7 (for C$2,008,881), July 29 (for C$1,922,850)
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.34 at close May 27
|
| Market capitalization: | C$12.6 million
|
|
|
| Units
|
| Amount: | C$2.37 million
|
| Units: | 7.9 million
|
| Price: | C$0.30
|
| Warrants: | One per unit
|
| Warrant strike price: | C$0.40
|
| Warrant expiration: | Two years
|
|
|
| Flow-through units
|
| Amount: | C$1,561,731
|
| Units: | 4,462,086
|
| Price: | C$0.35
|
| Warrants: | One half-share per unit
|
| Warrant strike price: | C$0.45
|
| Warrant expiration: | Two years
|
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