Non-brokered deal funds development of properties, working capital
By Devika Patel
Knoxville, Tenn., Dec. 31 - Fission Energy Corp. said it plans a non-brokered private placement of units to raise between C$1 million and C$2 million.
The company will sell between 2 million and 4 million units of one common share and one warrant at C$0.50 per unit. Each warrant will be exercisable at C$0.65 for two years.
The strike price is a 20.37% premium to the Dec. 28 closing share price of C$0.54.
Proceeds will be used for development of the company's properties and general working capital.
The company also said it has granted incentive stock options to directors, officers, employees and consultants, entitling them to purchase 2.5 million shares. The options are exercisable until Jan. 31, 2017 at C$0.55 per share.
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 warrant
|
| Amount: | C$1 million (minimum), C$2 million (maximum)
|
| Units: | 2 million (minimum), 4 million (maximum)
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.65
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 31
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.54 at close Dec. 28
|
| Market capitalization: | C$70.97 million
|
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