The Prospector News

Fission 3 Announces Closing 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 Private Placement Financing

 

 

 

 

 

Fission 3.0 Corp.  is pleased to announce that it has closed its previously announced non-brokered private placement for total gross proceeds of $1,500,201. The Company issued 500,000 units at a price of C$0.20 per Unit for gross proceeds of C$100,000 and 6,364,550 flow-through shares at a price of C$0.22 per FT Share for gross proceeds of C$1,400,201. Each Unit consists 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$0.25. 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 Private Placement, Red Cloud Klondike Strike Inc. received an aggregate cash commission of $98,014, representing commissions of 7% of the gross proceeds raised by the Finder. The Company also granted the Finder 445,518 warrants, representing 7.0% of the aggregated number of FT Shares sourced by the Finder. Each Finder’s Warrant is exercisable for one common share at a price of C$0.22 for a period of 36 months.

 

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 December 21, 2018

Share this news article

MORE or "UNCATEGORIZED"


Circular Mining: Vale Base Metals and BluestOne sign long-term offtake agreement to repurpose refinery waste in Brazil

Highlights: The agreement allows Vale Base Metals to advance its ... READ MORE

October 3, 2023

Platinex Announces Acquisition of a Canadian Uranium Portfolio and Formation of Green Canada Corporation

Platinex Inc. (CSE: PTX) (OTCQB: PANXF) (Frankfurt: 9PX)  is ple... READ MORE

October 3, 2023

Orex Signs a Non-Binding Letter of Intent to Acquire 100% of the Valenciana Gold-Silver Project in Zacatecas State, Mexico

Orex Minerals Inc. (TSX-V: REX) (OTCQB: ORMNF) is pleased to anno... READ MORE

October 3, 2023

Aldebaran Intercepts 649.40 m of 0.54% CuEq, Including 354.00 m of 0.72% CuEq at the Altar Copper-Gold Project

Aldebaran Resources Inc. (TSX-V: ALDE) (OTCQX: ADBRF) is pleased ... READ MORE

October 3, 2023

Probe Gold delineates additional high-grade gold mineralization at the Monique deposit, Novador Project, Quebec

Highlights: New results from 2023 resource drill program returned... READ MORE

October 3, 2023

Copyright 2023 The Prospector News