home Equities V.FUU Announces Increase in Private Placement Financing

V.FUU Announces Increase in Private Placement Financing

Fission 3.0 Corp. (“Fission 3” or the “Company”) is pleased to announce that due to strong demand in its previously announced non-brokered private placement financing of units (“Units”) and flow-through shares (“FT Shares”), the Company has increased the Unit offering to up to C$6.0 million in aggregate gross proceeds and reduced the FT Share offering to up to C$2.0 million in aggregate gross proceeds. In addition, the Company will pay a finder’s fee in accordance with the policies of the TSX Venture Exchange but will not grant finders warrants. All other terms of the financing will remain the same.

As disclosed in the Company’s press release of August 15, 2018, the Units will be sold at a price of C$0.10 per Unit and each Unit consists of one common share (“Common Shares”) and one common share purchase warrant (“Warrants”) exercisable at C$0.15 for a period of 3 years and the FT Shares will be sold at a price of C$0.10 per FT Share.

Closing of the offering will occur in one or more tranches, with the final tranche anticipated to close before the end of September 2018. Closing is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The Common Shares, Warrants, common shares issuable on exercise of the Warrants and FT Shares will be subject to resale restrictions for a period of four months from the closing date.

The gross proceeds of the offering of FT shares will be used to incur Canadian exploration expenses, which will be renounced in favour of the purchasers for the 2018 taxation year. The net proceeds from the sale of the Units will be used to advance development of the Company’s properties and for general working capital.

About Fission 3.0 Corp.

Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”

Source: Globe Newswire