NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Fission 3.0 Corp. (TSX VENTURE:FUU) ("Fission 3") is pleased to announce a non-brokered private placement financing to sell on a best efforts basis, up to C$2.0 million in units at a price of C$0.07 per unit and up to C$3.0 million in flow-through Shares at a price of C$0.10 per share. Each unit consists of one common share and one-half of one common share purchase warrant exercisable at C$0.10 for a period of 2 years.
A cash finder's fee of 7.5% of the gross proceeds raised in the offering may be paid, and the Company may grant finders such number of warrants ("Finders Warrants") as is equal to 7.5% of the aggregate number of units and flow-through common shares sold pursuant to the offering. Each Finders Warrant is exercisable for one common share at a price of C$0.07 per common share for a period expiring 2 years from the date of grant of the Finders Warrant.
Closing of the offering is anticipated to occur on or before March 31, 2017 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange.
The common shares, warrants and flow-through shares will be subject to resale restrictions for a period of four months from the closing date.
The gross proceeds of the offering of flow-through shares will be used to incur Canadian exploration expenses, which will be renounced in favor of the purchasers for the 2017 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.
Dev Randhawa, CEO and Chairman, of Fission 3.0 Corp. commented,
"Fission 3.0 has an award-winning team and projects at which our drilling success has confirmed as prospective for high-grade, shallow uranium and, in the case of Peru, for lithium as well. Our portfolio includes projects adjacent to those with major uranium deposits, such as Fission Uranium's Triple R in the Athabasca Basin, as well as Plateau Uranium's Corachapi Complex and Corani Complex in Macusani, Peru. The money raised from this financing will enable us to aggressively pursue drill programs at our highest-priority projects."
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."
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman & CEO
Cautionary Statement: Fission 3.0 Corp.
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 3.0 Corp. 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 Fission 3.0 Corp. 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 legislation.
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.
Fission 3.0 Corp.
Rich Matthews
Investor Relations
TF: 778-484-8030
rich@fission3corp.com
www.fission3corp.com