Uranium explorer seeks to fund property development and acquisitions
By Devika Patel
Knoxville, Tenn., Jan. 19 - Fission Energy Corp. announced that it plans a non-brokered private placement. The deal priced for C$5 million on Tuesday and was increased to C$7 million a few hours later.
The company will sell units of one common share and one half-share warrant at C$0.80 each. Each whole warrant is exercisable at C$1.00 for two years. The strike price reflects a 20.48% premium to the Jan. 17 closing share price of C$0.83.
Proceeds will be used to advance development of the company's properties, for acquisitions and 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 common share and one half-share warrant
|
| Amount: | C$7 million
|
| Price: | C$0.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$1.00
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 18
|
| Upsized: | Jan. 18
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.82 at close Jan. 18
|
| Market capitalization: | C$55.44 million
|
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