Fission Uranium Announces $12.5 Million Private Placement

Fission Uranium Corp. (TSXV:FCU,OTCQX:FCUUF,FWB:2FU) has entered into a letter of engagement with Dundee Securities Ltd. on behalf of a syndicate of underwriters. Under the terms of the agreement, the underwriters have agreed to purchase 8,350,000 flow-through common shares of Fission on a “bought deal” basis at a price of $1.50 per flow through share, for total gross proceeds of $12,525,000.

As quoted in the press release:

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.

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.

Click here to read the Fission Uranium Corp. (TSXV:FCU) press release