Deal has C$1.21 million greenshoe; proceeds to be used for development
By Devika Patel
Knoxville, Tenn., Nov. 11 - Fission Energy Corp. said it has increased a private placement of stock and units. The deal, which is now slated to raise C$12 million, priced Wednesday for C$8.05 million with a C$1.2 million greenshoe.
The company will now sell 6,667,000 flow-through shares at C$0.90 each for C$6 million. It also will sell 7.5 million units of one common share and a half-share warrant at C$0.80 per unit for C$6 million for a total of C$12 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. The C$1.2 million greenshoe is comprised of 750,000 units and 666,700 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$12,000,300
|
| Greenshoe: | C$1,200,030 (750,000 units and 666,700 shares)
|
| Agent: | Dundee Securities Corp.
|
| Pricing date: | Nov. 10
|
| Upsized: | Nov. 11
|
| Settlement date: | Dec. 2
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.88 at close Nov. 10
|
| Market capitalization: | C$58.19 million
|
|
|
| Shares
|
| Amount: | C$6,000,300
|
| Shares: | 6,667,000
|
| Price: | C$0.90
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$6 million
|
| Units: | 7.5 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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