Fission Uranium To Conduct $30 Million Bought Deal
Fission Uranium Corp. (TSX: FCU) announced this morning that it will be conducting a bought deal offering for gross proceeds of $30.0 million. The arrangement was entered into with a syndicate of underwriters led by Eight Capital and Sprott Capital Partners LP.
Under the terms of the agreement, Fission Uranium will be offering 50 million units at $0.60 per unit. Each unit consists of a common share and one-half of a common share purchase warrant. Each whole warrant entitles the bearer to purchase a common share at $0.85 per share within three years from the closing date.
Fission Uranium also granted the option to purchase up to an additional 15% of the units to the underwriters within 30 days from the closing date for “market stabilization purposes.”
The company said proceeds of this funding will be used for developing the Triple R deposit in Saskatchewan, for repaying certain credit facilities, and for working capital and general corporate purposes.
The offering is scheduled to close on May 11, 2021, subject to customary conditions and approvals.
Fission Uranium Corp. last traded at $0.69 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
