For.&Col.Euro. (See LSE:EUT) Share Discussion Threads

[stu31] 08/2/2021 21:00

Fission Closes C$7.0 Million Bought Deal Offering
21/12/2020 3:04pm

TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU

KELOWNA, BC, Dec. 21, 2020 /CNW/ - FISSION URANIUM CORP. ("FISSION" or the "Company") is pleased to announce that it has closed its previously announced bought deal financing consisting of 17,073,171 flow-through units (the "FT Units") at a price of C$0.41 per FT Unit for gross proceeds of C$7.0 million, inclusive of the exercise of the full over-allotment option held by the Underwriters (the "Offering").

Red Cloud Securities Inc. acted as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Eight Capital and Canaccord Genuity Corp (collectively, the "Underwriters").

Each FT Unit consisted of one common share of the Company to be issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Income Tax Act") and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.50 at any time on or before 5:00 pm on December 21, 2022. The Warrant Shares issued on exercise of the Warrants will not be "flow-through shares" for the purposes of the Income Tax Act.

The Underwriters received a cash commission of 6.0% of the gross proceeds of the Offering, subject to a reduced cash commission being payable on sales to certain members of the president's list.

Proceeds from the sale of FT Units will be used to incur "Canadian exploration expenses" as defined in subsection 66.1(6) of the Income Tax Act and "flow through mining expenditures" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2020, in the aggregate amount of not less than the total amount of gross proceeds raised from the sale of FT Units.

The Offering was completed pursuant to prospectus supplement to the Company's base shelf prospectus dated December 7, 2020.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Fission Uranium

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the class-leading Triple R uranium deposit - and is headquartered in Kelowna, British Columbia. Fission's common shares are listed on the Toronto Stock Exchange under the symbol "FCU" and trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF."

[stu31] 08/2/2021 18:13

577.7m shares in issue. 658.9m FD. Market Cap C$231m (£136m) at 40c
Cash C$30m Debt C$9m (12/20)

website:

Fission Uranium is developing the high-grade, near-surface Triple R uranium deposit – part of the multiple award-winning PLS project.

Located in the renowned Athabasca Basin uranium district, PLS hosts the longest mineralized trend in the district and the Triple R is the only existing major, high-grade deposit in the region found at shallow depth.

With an experienced team run by CEO and uranium expert, Ross McElroy, Fission has completed a pre-feasibility study that shows the potential for the Triple R to be among the lowest operating cost uranium mines in the world. The company is currently focused on advancing towards Feasibility.

ONE OF THE WORLD’S LARGEST AND LOWEST COST URANIUM PROJECTS
September 2019 PFS outlines UG mine production of 78.7M lbs of U3O8,
averaging 13.1M lbs per for the first five years and LOM avg. cash costs of US$7.18/lb U3O8
Initial Capital Cost C$M $1,177
Mine Life 7 years Construction Period 3 years
FS 2022 Cost $27m
Construction decision 2026

[shavian] 04/10/2016 06:27

More high grade drilling results from PLS with updated maps:

hxxp://fissionuranium.mwnewsroom.com/press-releases/fission-hits-high-grades-at-both-ends-of-2-63km-trend-including-12-90-u3o8-over-tsx-fcu-201609261070520001

[shavian] 11/8/2016 15:04

New - idiot's guide infographic to PLS resource:

[my retirement fund] 13/7/2016 12:02

News and Charts Here: