Fission Energy Corp. to Cease Trading Upon Close of Business April 29, 2013
Fission Energy Corp. to Cease Trading Upon Close of Business April 29, 2013
KELOWNA, BRITISH COLUMBIA -- (Marketwired) -- 04/29/13 -- FISSION ENERGY CORP. ("Fission" or the "Company") (TSX VENTURE:FIS)(OTCQX:FSSIF)(FRANKFURT:6FS) advises that Fission's common shares ("Fission Shares") will cease trading on the TSX-V upon close of business on Monday, April 29, 2013 and are expected to be de-listed shortly after that.
Pursuant to the Arrangement between Fission and Denison Mines Corp. ("Denison"), each Fission Share held at the close of business on April 29, 2013 will entitle the holder to 0.355 of a common share of Denison ("Denison Shares"), a nominal cash amount of CDN$0.0001 and a common share of a newly incorporated exploration company, Fission Uranium Corp. ("Fission Uranium"). Fission Uranium's common shares are expected to commence trading on the TSX-V on Wednesday, May 1, 2013 under the symbol "FCU".
If you hold your Fission Shares through a broker or other person, please contact that broker or other person for instructions and assistance in receiving Denison Shares and Fission Uranium Shares in respect of your Fission Shares.
If you are a registered Fission shareholder, please complete and return the Letter of Transmittal together with the certificate(s) representing your Fission Shares and any other required documents and instruments, to the depositary, Computershare Investor Services Inc., in accordance with the instructions set out in the Letter of Transmittal. The Letter of Transmittal contains other procedural information related to the Arrangement and should be reviewed carefully. The Letter of Transmittal and Notice of Meeting and Management Information Circular contain detailed information to assist you in obtaining your Denison Shares and Fission Uranium Shares and are available on Fission's SEDAR profile at www.sedar.com. If you require assistance, you should consult your financial, legal, or other professional advisors. In addition, you can contact Computershare Investor Services Inc. at Toll Free: 1-800-564-6253 (North America); Phone: 1-514-982-7555 (Overseas); or Email: email@example.com.
About Fission Energy Corp. & Denison Mines Corp.
Fission Energy Corp. is a wholly owned subsidiary of Deniso n Mines Corp.
Denison Mines Corp. is a uranium exploration and development company with interests in exploration and development projects in Canada, Zambia and Mongolia. Including the high grade Phoenix deposits, located on its 60% owned Wheeler River project, Denison's exploration project portfolio includes 51 projects and totals over 700,000 hectares in the Eastern Athabasca Basin region of Saskatchewan. Denison's interests in Saskatchewan also include a 22.5% ownership interest in the McClean Lake Joint Venture, which includes several uranium deposits and the McClean Lake uranium mill, one of the world's largest uranium processing facilities, plus a 25.17% interest in the Midwest deposit and a 60% interest in the J-Zone deposit on the Waterbury property. Both the Midwest and J-Zone deposits are located within 20 kilometres of the McClean Lake mill. Internationally, Denison owns 100% of the conventional heap leach Mutanga project, in Zambia, and an 85% interest in the in-situ recovery projects held by the Gurvan Saihan Joint Venture, in Mongolia.
Denison is engaged in mine decommissioning and environmental services through its Denison Environmental Services (DES) division and is the manager of Uranium Participation Corporation (TSX-U), a publicly traded company which invests in uranium oxide in concentrates and uranium hexafluoride
Certain information contained in this press release constitutes "forward-looking information", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation concerning the business, operations and financial performance and condition of Denison.
Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to".
Forward looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Denison to be materially different from those expressed or implied by such forward looking statements. Denison believes that the expectations reflected in this forward looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward looking information included in this press release should not be unduly relied upon. This information speaks only as of the date of this press release. In particular, this press release may contain forward looking information pertaining to the following: the estimates of Denison's mineral reserves and resources; capital expenditure programs; expectations regarding the toll milling of Cigar Lake ores; exploration and development expenditures and reclamation costs; expectations of market prices and costs; supply and demand for uranium; possible impacts of litigation and regulatory actions on Denison; exploration, development and expansion plans and objectives; future royalty and tax payments and rates; Denison's expectations regarding raising capital and adding to its mineral reserves and resources through acquisitions and exploration; and receipt of regulatory approvals, permits and licences under governmental regulatory regimes.
There can be no assurance that such statements will prove to be accurate, as Denison's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of those factors discussed in or referred to under the heading "Risk Factors" in Denison's Annual Information Form dated March 13, 2013, available at http://www.sedar.com, and in its Form 40-F available at http://www.sec.gov, as well as the following: global financial conditions; the ability of Denison to meet its obligations to its creditors and the uncertainty of funding; volatility in the market price of the Company's shares and the risk of dilution from future equity financings; the impact of volatility in uranium prices on the valuation of Denison's mineral reserves and resources and the market price of its shares; public acceptance of nuclear energy and competition from other energy sources; failure to realize benefits from transactions; competition for properties; the imprecision of mineral reserves and resources estimation; Denison's ability to expand and replace its mineral reserves and resources; uncertainty as to reclamation and decommissioning liabilities; reliance on other operators; technical innovation rendering Denison's products and services obsolete; property title risk; liabilities inherent in mining operations and the adequacy of insurance coverage; delays in obtaining permits and licences for development properties; the speculative nature of exploration and development projects; difficulty complying with changing government regulations and policy, including without limitation, compliance with environment, health and safety regulations; uncertainty surrounding Denison's operations in foreign jurisdictions; potential claims of Canada's first nations people; dependence on key personnel; the potential influence of Denison's largest Shareholder, Korea Electric Power Corporation; potential conflicts of interest for the Company's directors who are engaged in similar businesses; and limitations of disclosure and internal controls.
Accordingly, readers should not place undue reliance on forward-looking statements. These factors are not, and should not be construed as being, exhaustive. Statements relating to "mineral reserves" or "mineral resources" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions that the mineral reserves and mineral resources described can be profitably produced in the future. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Denison does not undertake any obligation to publicly update or revise any forward-looking information after the date of this press release to conform such information to actual results or to changes in Denison's expectations except as otherwise required by applicable legislation.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts: Fission Energy Corp. Ron Hochstein President and Chief Executive Officer (416) 979-1991 ext 232
Fission Energy Corp. Sophia Shane Investor Relations (604) 689-7842