NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Fission Uranium Corp.
TSX VENTURE SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
AUGUST 18, 2014
Fission Uranium Announces $12.5 Million Bought Private Placement
KELOWNA, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Fission Uranium Corp. (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU)
("Fission" or the "Company") is pleased to announce that it
has entered into a letter of engagement with Dundee Securities Ltd. (the
"Lead Underwriter") on behalf of a syndicate of underwriters
including BMO Capital Markets, Raymond James Ltd., Macquarie Capital Markets
Canada Ltd., and Cantor Fitzgerald Canada Corporation (the
"Underwriters") under which the Underwriters have agreed to purchase
8,350,000 flow-through common shares of the Company (the "Flow-Through
Shares"), by way of a private placement on a "bought deal"
basis, subject to all required regulatory approvals, at a price per
Flow-Through Share of $1.50, for total gross proceeds of $12,525,000 (the
The Underwriters have been granted the option to purchase up to an additional
15% of the Offering, exercisable in whole or in part at any time up to 48 hours
prior to the Closing Date (the "Option").
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 will agree to renounce such Canadian Exploration Expenses
with an effective date of no later than December 31, 2014.
In connection with the Offering, the Underwriters will receive a cash
commission equal to 5.0% of the gross proceeds raised under the Offering
(inclusive of the Option).
The Closing Date of the Offering is scheduled to be on or about September 23,
2014. All securities issued will be subject to a statutory hold period expiring
on the date that is four months and one day following the Closing Date. The
Offering is subject to a number of conditions, including, without limitation,
receipt of all regulatory approvals.
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. Common Shares are
listed on the TSX Venture Exchange under the symbol "FCU" and trade
on the OTCQX marketplace in the U.S. under the symbol "FCUUF."
ON BEHALF OF THE BOARD
Ross McElroy, President and COO
Cautionary Statement: Certain information contained in this press release
constitutes "forward-looking information", within the meaning of
Canadian legislation. 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 contained in this
press release may include statements regarding the future operating or
financial performance of Fission and Fission Uranium which involve known and
unknown risks and uncertainties which may not prove to be accurate. Actual
results and outcomes may differ materially from what is expressed or forecasted
in these forward-looking statements. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations. Among those factors which could cause actual results to differ
materially are the following: market conditions and other risk factors listed
from time to time in our reports filed with Canadian securities regulators on
SEDAR at www.sedar.com. The forward-looking statements included in this press
release are made as of the date of this press release and the Company and
Fission Uranium disclaim any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Fission Uranium Corp.
INDUSTRY: Manufacturing and Production - Mining and Metals
-0- Aug/18/2014 11:55 GMT
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