Fission 3.0 (TSXV:FUU) has announced that it has increased its unit offering to up to $3 million in aggregate proceeds and reduce the previously announced non-brokered private placement financing of flow-through shares to up to $2 million in aggregate proceeds.
As quoted in the press release:
All other terms of the financing will remain the same. As disclosed in the Company’s press release of March 7, 2017, the Units will be sold at a price of C$0.07 per Unit and each Unit consists of one common share and one-half of one common share purchase warrant exercisable at C$0.10 for a period of 2 years.
Closing of the offering is anticipated to occur on or before March 31, 2017 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The common shares and warrants will be subject to resale restrictions for a period of four months from the closing date.
The net proceeds from the sale of the Units will be used to advance development of the Company’s properties and for general working capital.