Brokered offering with C$2 million greenshoe will finance exploration
By Devika Patel
Knoxville, Tenn., Dec. 7 - Fission Energy Corp. said it increased a private placement of stock to C$4 million from C$3 million. There is a C$2 million greenshoe for the offering, which priced Thursday.
The company will now sell 6,667,000 flow-through common shares at C$0.60 per share on a bought-deal basis. The price per share reflects an 11.11% premium to the Dec. 5 closing share price of C$0.54.
The deal is being conducted through a syndicate of underwriters led by Dundee Securities Ltd. and including Cantor Fitzgerald Canada Corp. and Raymond James Ltd.
Settlement is expected Dec. 21.
Proceeds will be used for exploration.
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 common shares
|
| Amount: | C$4,000,200
|
| Greenshoe: | C$2 million
|
| Shares: | 6,667,000
|
| Price: | C$0.60
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Ltd. (lead), Cantor Fitzgerald Canada Corp. and Raymond James Ltd.
|
| Pricing date: | Dec. 6
|
| Upsized: | Dec. 7
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.54 at close Dec. 5
|
| Market capitalization: | C$63.5 million
|
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