Each receipt is exchangeable into one flow-through common share
By Devika Patel
Knoxville, Tenn., Oct. 24 - Fission Uranium Corp. said it raised C$12.87 million in a bought-deal private placement of subscription receipts. The offering priced for C$11.25 million with a greenshoe on Oct. 3.
The company sold 8,581,700 subscription receipts at C$1.50 each. Of the receipts, 1,081,700 were part of the greenshoe.
Each subscription receipt is exchangeable into one flow-through common share. After conversion, the price per share is a 20% premium to the closing share price of C$1.25 on Oct. 2.
The deal was conducted on a bought-deal basis by a syndicate of underwriters led by Dundee Securities Ltd. and including Raymond James, Ltd., Cantor Fitzgerald Canada Corp., Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd.
Proceeds will be used for exploration of the Paterson Lake South project.
Based in Kelowna, B.C., Fission is a resource company that focuses on the strategic acquisition, exploration and development of uranium properties.
| Issuer: | Fission Uranium Corp.
|
| Issue: | Subscription receipts exchangeable into flow-through common shares
|
| Amount: | C$12,872,550 (including C$1,622,550 greenshoe)
|
| Receipts: | 8,581,700
|
| Price: | C$1.50
|
| Warrants: | No
|
| Underwriters: | Dundee Securities Ltd. (lead), Raymond James, Ltd., Cantor Fitzgerald Canada Corp., Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd.
|
| Pricing date: | Oct. 3
|
| Settlement date: | Oct. 24
|
| Stock symbol: | TSX Venture: FCU
|
| Stock price: | C$1.25 at close Oct. 2
|
| Market capitalization: | C$168.17 million
|
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