Proceeds for property development, acquisitions and working capital
By Melissa Kory
Cleveland, Jan. 18 - Fission Energy Corp. announced that it has arranged a non-brokered private placement of up to C$7 million units.
The company announced the size of the placement as C$5 million on Tuesday and increased it to C$7 million later in the day.
Each unit will consist of one common share and one half-share warrant and be sold at C$0.80 per unit. Each whole warrant is exercisable at C$1.00 for two years. The strike price reflects a 20.48% premium to the Jan. 17 closing share price of C$0.83.
If the closing price of the company's common shares is greater than C$1.60 per share for a period of 20 consecutive trading days at any time after the four-month anniversary of the closing date, the company may accelerate the expiration of the warrants. The warrants will expire 30 days after the notice.
The proceeds from the placement will be used to advance development of the company's properties, for potential acquisitions and for general working capital.
Fission is a resource company specializing in the strategic acquisition, exploration and development of uranium properties and is based in Kelowna, B.C.
| Issuer: | Fission Energy Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$7 million
|
| Price: | C$0.80 per unit
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Jan. 18
|
| Stock symbol: | TSX Venture: FIS
|
| Stock price: | C$0.83 at close Jan. 17
|
| Market capitalization: | C$56.83 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
