Deal has C$1.21 million greenshoe; proceeds to be used for development
By Devika Patel
Knoxville, Tenn., Nov. 10 - Fission Energy Corp. said it has arranged a private placement of stock and units.
The company will sell 4.5 million flow-through shares at C$0.90 each for C$4.05 million. It also will sell 5 million units of one common share and a half-share warrant at C$0.80 per unit for C$4 million for a total of C$8.05 million.
Each warrant is exercisable at C$1.00 for two years. The strike price reflects a 16.28% premium to the Nov. 9 closing share price of C$0.86.
Settlement is expected Dec. 2.
The deal will be conducted by Dundee Securities Corp. and a syndicate of underwriters. There is a greenshoe for C$1.21 million, or 750,000 units and 675,000 shares.
Proceeds will be used to advance development of the company's properties, for acquisitions 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: | Flow-through shares, units of one common share and a half-share warrant
|
| Amount: | C$8.05 million
|
| Greenshoe: | C$1,207,500 (750,000 units and 675,000 shares)
|
| Agent: | Dundee Securities Corp.
|
| Pricing date: | Nov. 10
|
| Settlement date: | Dec. 2
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.88 at close Nov. 10
|
| Market capitalization: | C$60.96 million
|
|
|
| Shares
|
| Amount: | C$4.05 million
|
| Shares: | 4.5 million
|
| Price: | C$0.90
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$4 million
|
| Units: | 5 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
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