The Prospector News

Fission 3 Announces Closing of First Tranche of Private Placement Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Fission 3 Announces Closing of First Tranche of Private Placement Financing

 

 

 

 

 

Fission 3.0 Corp. is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement. The Company issued 52,050,000 units at a price of C$0.10 per Unit for gross proceeds of C$5,205,000 and 9,800,000 flow-through shares  at a price of C$0.10 per FT Share for gross proceeds of C$980,000, for aggregate gross proceeds of C$6,185,000. Each Unit consisted of one common share and one common share purchase warrant.

 

 

Each Warrant is exercisable for an additional Common Share until three years from the date of issuance at an exercise price of C$0.15. If, commencing four months and one day after the date of issuance, the volume weighted average trading price of the Company’s Common Shares on the TSX Venture Exchange is higher than C$0.30 for 20 consecutive trading days then, on the 20th consecutive trading day of any such period, the expiry date of the Warrants may be accelerated by the Company in its absolute discretion to the 30th calendar day after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date.

 

 

The Common Shares, Warrants, common shares issuable on exercise of the Warrants and FT Shares will be subject to resale restrictions for a period of four months from issuance.

 

 

In connection with the closing of the First Tranche, Sprott Capital Partners, Sprott Global Resource Investments, Ltd. and certain other finders received an aggregate cash commission of $396,400, representing commissions of up to 8% of the gross proceeds raised by such finders.

 

 

The gross proceeds of the offering of FT shares will be used to incur Canadian exploration expenses, which will be renounced in favour of the purchasers for the 2018 taxation year. 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.

 

 

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.

 

Posted October 1, 2018

Share this news article

MORE or "UNCATEGORIZED"


Robex Resources Inc. Announces the First Encouraging Results of the 2020 Exploration Program.

Robex Resources Inc. (TSX-V: RBX) (FWB: RB4) is pleased to report... READ MORE

May 22, 2020

Ucore Closes First Tranche of Convertible Debenture Financing

Ucore Rare Metals Inc.(TSX-V:UCU) (OTCQX:UURAF)... READ MORE

May 22, 2020

Mistango Closes Eric Sprott Led $2.5 Million Financing

Mistango River Resources Inc. (CSE: MIS) is pleased to announce i... READ MORE

May 22, 2020

Evergold Closes $1.17 Million Financing With Respected Funds as Field Season Gets Underway

Evergold Corp. (TSX-V: EVER) is pleased to announce that it has c... READ MORE

May 22, 2020

Silvercorp Reports Net Income of $34.3 Million, $0.20 Per Share, and Cash Flow From Operations of $77.2 Million for Fiscal 2020

Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) reported i... READ MORE

May 21, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions