"regulatory compliance services"

Fission 3.0 Corp. Announces Closing of Brokered Private Placement for Gross Proceeds of $8,587,353

Fission 3.0 Corp. (TSXV: FUU) (OTCQB: FISOF) (the "Company") is pleased to announce that it has closed its previously announced "best efforts" private placement (the "Offering") for gross proceeds of C$8,587,353, from the sale of the following:

  • 17,043,642 units of the Company (each, a "Unit") at a price of C$0.21 per Unit for gross proceeds of C$3,579,164 from the sale of Units;
  • 16,373,732 flow-through units of the Company (each, a "FT Unit") at a price of C$0.23 per FT Unit for gross proceeds of C$3,765,958 from the sale of FT Units; and
  • 4,283,552 FT Units to be sold to charitable buyers (each, a "Charity FT Unit" and together with the Units and FT Units, the "Offered Units") at a price of C$0.29 for gross proceeds of C$1,242,230 from the sale of Charity FT Units.

Each Unit issued pursuant to the Offering is comprised of one common share of the Company (each, a "Unit Share") and one common share purchase warrant (each whole warrant, a "Warrant"). Each FT Unit is comprised of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one Warrant. Each Charity FT Unit is comprised of one FT Share and one Warrant. Each whole Warrant entitles the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.26 at any time on or before December 22, 2023.

Red Cloud Securities Inc. (the "Agent") acted as sole agent and bookrunner under the Offering. In connection with the Offering, the Company paid the Agent an aggregate cash commission of approximately C$276,363, equal to five per cent (5.0%) of the gross proceeds raised under the Offering (the "Broker Commission") (except for certain of those purchasers listed on the president's list (the "President's List"), to which no commission was paid). The Company also issued to the Agent 1,152,903 broker warrants (the "Broker Warrants" and, together with the Broker Commission, the "Commission"), equal to five percent (5.0%) percent of the Offered Units sold pursuant to the Offering (except for certain of those Offered Units sold to purchasers on the President's List). Each Broker Warrant entitles the holder thereof to purchase one common share in the capital of the Company at a price of C$0.21 at any time on or before December 22, 2023.

In addition to the Commission, pursuant to the Offering and in accordance with the policies of the TSX Venture Exchange (the "TSXV"), the Company (i) paid Canaccord Genuity Corp., Haywood Securities Inc., and Ocean Wall Limited (the "Finders") a cash fee totaling $140,208.49, and (ii) issued the Finders an aggregate of 621,111 common share purchase warrants (the "Finders' Warrants"). Each Finders' Warrant is non-transferable and is exercisable into one common share at a price of $0.21 per common share until December 22, 2023.

The Company intends to use the proceeds raised from the Offering for future exploration work on the Company's projects, corporate development and general corporate and working capital purposes. The gross proceeds from the issuance of the FT Shares will be used for "Canadian Exploration Expenses" (within the meaning of the Income Tax Act (Canada)) (the "Qualifying Expenditures"), which will be renounced with an effective date no later than December 31, 2021 to the purchasers of the FT Units and Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Units and Charity FT Units for any additional taxes payable by such subscriber as a result of the Company's failure to renounce the Qualifying Expenditures.

The Unit Shares, FT Shares, Warrants and Warrant Shares sold pursuant to the Offering are subject to a four month hold period, which will expire on April 23, 2022.

The securities described herein have not been, and will not be, registered under the United States Securities Act, or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Fission 3.0 Corp.

Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common shares are listed on the TSXV under the symbol "FUU".

ON BEHALF OF THE BOARD
"Dev Randhawa"

Dev Randhawa, CEO

For more information, please contact ir@fission3corp.com
www.fission3corp.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the Company's plans for its properties/projects, the TSXVs final approval of the Offering, the use of funds, other statements relating to the technical, financial and business prospects of the Company, and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate, adverse weather conditions, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108370

News Provided by Newsfile via QuoteMedia

FUU:CA
The Conversation (0)
Fission 3.0 Corp. Receives 6,046,952 Traction Shares

Fission 3.0 Corp. Receives 6,046,952 Traction Shares

Fission Uranium 3.0 (TSXV: FUU) (OTCQB: FISOF) ("Fission 3.0 Corp") are pleased to announce they have received 6,046,952 shares, ($5,442,257 based on today's $0.90 market price) from Traction Uranium Corp. (CSE:TRAC) in regards to the JV Agreement with Traction for the two properties located in Saskatchewan's Athabasca Basin region (the "Properties"): the Hearty Bay Project, comprised of 7 mineral claims covering approximately 11,173 hectares (the "Hearty Bay Project"), and the Lazy Edward Project, comprised of 11 mineral claims covering approximately 1,828 hectares (the "Lazy Edward Project"). The shares are under trade restriction until April 30, 2022.

The Hearty Bay property surrounds the historic Isle Brochet radioactive boulder trains. Boulder prospecting by Fission 3 on Isle Brochet in 2019 led to the discovery of 45 radioactive boulders with assay values up to 8.23% U3O8 with over 24% of them returning assay values of >1% U3O8. A marine seismic survey completed in the up-ice direction to the northeast was interpreted to indicate multiple basement structural and lithological features which have defined drill targets. The objective of further exploration on the property is to discover the source of the uraniferous boulder field.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fission 3.0 Corp. Announces Warrant Exercises for Proceeds of $690,500

Fission 3.0 Corp. Announces Warrant Exercises for Proceeds of $690,500

Fission 3.0 Corp. (TSXV: FUU) (the "Company") today announces that it has received total proceeds of approx. $690,500 from the exercise of stock options and warrants between November 5, 2021 to December 22, 2021. The warrants were issued pursuant to private placements that closed in September and October 2018 and August 2020. Accordingly, the Company has issued a total of 5,276,667 shares of common shares since its last update of November 5, 2021. The Aggregate proceeds received from the exercise of the options and warrants will be used for future exploration work on the Company's projects, corporate development and general corporate and working capital purposes.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fission 3.0 Commences Geophysics on Flagship Property PLN

Fission 3.0 Commences Geophysics on Flagship Property PLN

Fission 3.0 CORP (TSXV: FUU) (OTCQB: FISOF) ("Fission 3" or "the Company") is pleased to announce that on-site lake-ice preparation is underway to support a 4000-meter drill program on its 100% owned flagship Patterson Lake North "PLN" project in Canada. In addition ground geophysical surveys consisting of DC Resistivity and Time Domain electromagnetic surveys, designed to refine drill targeting, have commenced at the Broach Lake area. Located in the same area as where Fission Uranium Corp and NexGen Energy are advancing their world-class, large, high-grade uranium deposits PLN is amongst the highest ranked projects in Fission 3's extensive portfolio. Previous drill programs at PLN have identified basement hosted uranium mineralization supported by the presence of alteration, pathfinder structural disturbance supporting large-scale potential of the area.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fission 3.0 Corp. and Traction Uranium Announce Option Agreements for Lazy Edward and Hearty Bay Projects

Fission 3.0 Corp. and Traction Uranium Announce Option Agreements for Lazy Edward and Hearty Bay Projects

Fission 3.0 Corp. (TSXV: FUU) (OTCQB: FISOF) ("Fission 3.0 Corp" or the "Optionor") is pleased to announce that, further to the news release dated November 1, 2021, it has entered into two option agreements with Traction Uranium Corp. (CSE: TRAC) ("Traction") respecting options to acquire up to a 70% interest in two properties located in Saskatchewan's Athabasca Basin region (the "Properties"): the Hearty Bay Project, comprised of 6 mineral claims covering approximately 10,604 hectares (the "Hearty Bay Project"); and the Lazy Edward Project, comprised of 11 mineral claims covering approximately 1,828 hectares (the "Lazy Edward Project").

The Hearty Bay property surrounds the historic Isle Brochet radioactive boulder trains. Boulder prospecting by Fission 3 on Isle Brochet in 2019 led to the discovery of 45 radioactive boulders with assay values up to 8.23% U3O8 with over 24% of them returning assay values of >1% U3O8. A marine seismic survey completed in the up-ice direction to the northeast was interpreted to indicate multiple basement structural and lithological features which have defined drill targets. The objective of further exploration on the property is to discover the source of the uraniferous boulder field.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fission 3.0 Corp. Announces Upsize of Brokered Private Placement to up to C$7.5 Million

Fission 3.0 Corp. Announces Upsize of Brokered Private Placement to up to C$7.5 Million

Fission 3.0 Corp. (TSXV: FUU) (the "Company") is pleased to announce that due to significant investor demand, the Company has increased the size of its previously announced "best efforts" private placement (the "Offering") from C$5,000,000 to up to C$7,500,000 from the sale of any combination of the following:

  • units of the Company (each, a "Unit") at a price of C$0.21 per Unit;
  • flow-through units of the Company (each, a "FT Unit") at a price of C$0.23 per FT Unit; and
  • FT Units to be sold to charitable purchasers (each, a "Charity FT Unit") at a price of C$0.29 per Charity FT Unit.

Each Unit will be comprised of one common share of the Company (each, a "Unit Share") and one common share purchase warrant (each, a "Warrant"). Each FT Unit will be comprised of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one half of one Warrant. Each Charity FT Unit will consist of one FT Share and one Warrant. Each whole Warrant shall entitle the holder to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.26 at any time on or before that date which is 24 months after the closing date of the Offering.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nuclear reactors with upward trending graph overlay.

Cameco, Kazatomprom Production Cuts Stoke Uranium Market Tightness

Shares of Cameco (TSX:CCO,NYSE:CCJ) were on the rise after the uranium major announced it is reducing its annual production guidance due to expansion delays at the McArthur mine in Saskatchewan, Canada.

Instead of the projected 18 million pounds of U3O8 the company was aiming for from its McArthur River joint venture with Orano, the revised output tally reduces 2025’s production total to between 14 million and 15 million pounds.

In January, Cameco warned that delays at McArthur River — including slower-than-expected ground freezing, development setbacks and labor constraints — could affect its 2025 production outlook.

Keep reading...Show less
AuKing Mining (ASX:AKN)

AuKing Mining


Keep reading...Show less
Acquires Extensive Uranium and Rare Earth Portfolio

Acquires Extensive Uranium and Rare Earth Portfolio

Basin Energy (BSN:AU) has announced Acquires Extensive Uranium and Rare Earth Portfolio

Download the PDF here.

Graph with rising red line next to stylized cooling towers emitting digital particles.

Kazatomprom Cuts 2026 Uranium Output as Market Tightens, Demand Seen Rising

Kazatomprom, Kazakhstan’s state-owned uranium giant, said it will scale back production in 2026, noting that current supply and demand dynamics do not justify a return to full capacity even as long-term prices hold firm.

The company, which accounts for more than one-fifth of the world’s primary uranium output, said in an August 22 release that it expects to lower production by roughly 10 percent next year compared to earlier targets.

It will reduce its nominal output level from 32,777 metric tons of U3O8 to 29,697 metric tons.

Keep reading...Show less
Map pinpointing Uranium City near Lake Athabasca in Saskatchewan, Canada, with a red pushpin.

Guide to Uranium Mining in Canada

Uranium mining in Canada accounts for 13 percent of global output, making the Great White North the second largest producer of uranium in the world, behind only Kazakhstan.

Canada hosts 9 percent of the world’s uranium resources and is home to the biggest deposits of high-grade uranium. Their grades of up to 20 percent uranium are 100 times greater than the global average.

Canadian uranium deposits are found mainly in the provinces of Saskatchewan, Newfoundland and Labrador, and Québec, as well as the territory of Nunavut. Of these, Saskatchewan leads the country in both uranium exploration and production.

Keep reading...Show less

Latest Press Releases

Related News

×