Mr. Ross McElroy reports
FISSION CLOSES C$34.5 MILLION BOUGHT DEAL OFFERING
Fission Uranium Corp. has closed its previously announced bought deal financing, consisting of 57.5 million units at a price of 60 cents per unit for gross proceeds of $34.5-million, inclusive of the full exercise of the overallotment option held by the underwriters.
Eight Capital and Sprott Capital Partners LP acted as co-lead underwriters, on behalf of a syndicate of underwriters including Canaccord Genuity Corp., BMO Nesbitt Burns Inc. and H.C. Wainwright & Co. LLC.
Each unit consisted of one common share of the company and one-half of one common share purchase warrant. Each warrant shall entitle the holder to purchase one common share of the company at a price of 85 cents at any time on or before 5 p.m. on May 11, 2024.
The company intends to use the net proceeds of the offering to finance further development of the Triple R deposit in Saskatchewan and for working capital and general corporate purposes.
The offering was completed pursuant to a prospectus supplement to the company's base shelf prospectus dated Dec. 7, 2020.
About Fission Uranium Corp.
Fission Uranium 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, B.C.
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