Fission Energy Announces Increase in Bought Private Placement to $10.0 Million

Fission Energy Corp. (TSXV:FIS,OTCQX:FSSIF) reported that it has entered into a revised letter of engagement with Dundee Securities Ltd. in a bought private placement of $10 million.

As quoted in the press release:

In connection with the Offering, the Underwriters will receive a cash commission equal to 6.0% of the gross proceeds raised under the Offering and that number of non-transferable broker warrants equal to 6.0% of the number of Flow-Through Shares sold. Each Broker Warrant will be exercisable into one common share of the Company for a period of 24 months from the Closing Date at a price of $0.85 per common share.

The Closing Date of the Offering is scheduled on or about November 17, 2011. All securities issued will be subject to a four month hold period. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

Click here to read the Fission Energy (TSXV:FIS,OTCQX:FSSIF) press release. 

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