Uranium explorer seeks to fund property development and acquisitions
By Devika Patel
Knoxville, Tenn., Jan. 25 - Fission Energy Corp. announced it has again increased a non-brokered private placement. The deal priced for C$5 million on Jan. 18 and was increased to C$7 million a few hours later. The company now plans to raise C$7.5 million.
The company is selling 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$7.5 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, Jan. 25
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.82 at close Jan. 18
|
| Market capitalization: | C$67.22 million
|
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