Source: Fission 3.0.
  • Fission 3.0 Corp. (FUU) has closed a brokered private placement for gross proceeds of C$8,000,000
  • The company sold 19,047,619 charitable flow-through common shares
  • Net proceeds will be used to fund a 20-hole drilling program on its Patterson Lake North Property
  • Fission 3 is a uranium project generator and exploration company focusing on projects in the Athabasca Basin
  • Fission 3.0 Corp. (FUU) is up 3.77 per cent on the day, trading at C$0.275 per share at 10:30 am ET

Fission 3.0 Corp. (FUU) has closed its previously announced brokered private placement for gross proceeds of C$8,000,000.

The offering was led by Red Cloud Securities Inc. on behalf of a syndicate of investment dealers that included Haywood Securities Inc. and Sprott Capital Partners.

Under the offering, the company sold 19,047,619 charitable flow-through common shares, including the full exercise of the dealer’s over-allotment option. 

A total of 11,904,762 FT shares were sold and are freely tradeable under the applicable Canadian securities legislation. The remaining 7,142,857 FT shares are subject to a statutory four-month hold period ending on April 22, 2023.

Net proceeds will be used to fund exploration of the company’s projects in the Athabasca Basin, specifically the drilling of 20 holes on its Patterson Lake North Property.

The company paid the dealers a cash commission of C$450,000 and a total of 1,071,428 warrants.

Fission 3 is a uranium project generator and exploration company focusing on projects in the Athabasca Basin. Fission 3 currently has 16 projects in the Athabasca Basin.

Fission 3.0 Corp. (FUU) is up 3.77 per cent on the day, trading at C$0.275 per share at 10:30 am ET.


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