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Fission 3.0 Corp. (TSXV: FUU) (the "Company") announces that the Company will be extending the exercise period of a total of 68,350,000 share purchase warrants, all of which are exercisable at $0.15 per share (collectively, the "Warrants"). The Warrants were issued pursuant to a private placement which closed over three tranches in September 2018. The Company proposes to extend the expiry dates for all these Warrants by one (1) additional year, and accordingly, the new expiry dates for the Warrants are as follows:
- Tranche 1: For Warrants issued on September 28, 2018, the new expiration date of those Warrants will be September 28, 2022.
- Tranche 2: For Warrants issued on October 2, 2018, the new expiration date for those Warrants will be October 2, 2022.
- Tranche 3: For Warrants issued on October 12, 2018, the new expiration date for those Warrants will be October 12, 2022.
All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.
A portion of the Warrants are held by parties who are considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the Warrants does not exceeds 25% of the market capitalization of the Company. A material change report in respect of this related party transaction will be filed by the Company.
The Company currently has 83,772,934 warrants outstanding exercisable from $0.06 to $0.25.
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 TSX Venture Exchange under the symbol "FUU".
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
For more information, please contact ir@fission3corp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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 closing of the private placement and 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.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96197
