Fission Uranium Corp. (TSX-V:FCU) (OTCQX:FCUUF) (FRANKFURT:2FU) is pleased to announce that it has completed its previously announced private placement of 8,350,000 flow through common shares at a price of $1.50 per Flow Through Share, for gross proceeds of $12,525,500. The Offering was conducted on a bought deal basis by a syndicate of underwriters led by Dundee Securities Ltd. and including BMO Nesbitt Burns Inc., Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and Cantor Fitzgerald Canada Corporation. On September 16, 2014, the Underwriters exercised their over-allotment option in full to purchase an additional 1,252,500 Flow Through Shares at a price of $1.50 per Flow Through Share, which increased the total number of Flow Through Shares offered to 9,602,500 and the gross proceeds of the Offering to $14,403,750.
In connection with the Offering, the Underwriters received a cash commission equal to 5.0% of the gross proceeds raised under the Offering other than 162,100 Flow Through Shares offered to investors on a ‘President’s List’ in respect of which the Underwriters received a cash commission equal to 2.5% of the gross proceeds.
All securities issued are subject to a statutory hold period expiring on the date that is four months and one day following September 23, 2014.
The Company intends to use the gross proceeds of the Offering for “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) related to the Company’s Canadian uranium mining exploration projects. The Company has agreed to renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2014.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property and is headquartered in Kelowna, British Columbia.
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