FISSION URANIUM CORP. (TSX:FCU) (OTCQX: FCUUF) (FRA: 2FU) is pleased to announce that it has closed its previously announced “bought deal” public offering consisting of 7,731,092 flow-through common shares of the Company that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), at a price of C$1.19 per Flow-Through Share for gross proceeds of C$9.2 million, inclusive of the full exercise of the over-allotment option held by the Underwriters.

Canaccord Genuity Corp. and SCP Resources Financing LP acted as co-lead underwriters on behalf of a syndicate of underwriters including Eight Capital and Red Cloud Securities.

The gross proceeds of the Offering will be used by the Company to incur eligible “Canadian exploration expenses” that will qualify as “flow-through critical mineral mining expenditures” as such terms are defined in the Income Tax Act (Canada) related to the Company’s PLS project located in Saskatchewan, Canada on or before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2023.

The Offering was completed pursuant to a prospectus supplement to the Company’s base shelf prospectus dated November 10, 2021.

The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

About Fission Uranium Corp.

Fission Uranium Corp. is an award-winning Canadian-based resource company specializing in uranium exploration and development. The company is the owner and developer of the PLS uranium project – a proposed high-grade mine and mill located in the Athabasca Basin, Saskatchewan, Canada. The company is headquartered in Kelowna, British Columbia.