FISSION URANIUM CORP. is pleased to announce the closing of a US$10 million senior secured credit facility with Sprott Resource Lending II (Collector) L.P. subject to the terms and conditions set forth in the credit agreement. Fission will use the proceeds from the Facility to fund development of the Patterson Lake South uranium project and for general working capital purposes. In connection with the Facility, Fission has agreed to issue 20,666,667 common share purchase warrants to Sprott and its affiliates. A summary of the key terms of the Facility and Warrants are as follows:
The Facility
For further details on the Facility, please refer to the Credit Agreement which will be filed on the Company’s SEDAR profile at www.sedar.com.
The Warrants
About Fission Uranium
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia.
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