Connect with us

Energy & Critical Metals

Fission 3.0 To Raise $5.0 Million Via Bought Deal Financing After Recent Uranium Discovery

In what is viewed as the classic junior exploration move, Fission 3.0 Corp (TSXV: FUU) this morning announced a bought
The post Fission 3.0 To Raise $5.0…

Share this article:

Published

on

This article was originally published by The Deep Dive

In what is viewed as the classic junior exploration move, Fission 3.0 Corp (TSXV: FUU) this morning announced a bought deal financing, which follows the firm releasing positive exploration results over the last two weeks. The company is looking to raise gross proceeds of $5.0 million in an offering lead by Red Cloud Securities.

The financing will see 11.9 million flow through common shares sold at a price of $0.42 for gross proceeds of $5.0 million. An over-allotment option of $1.0 million is also included with the offering, which is expected to be filled by investors on the President’s List. No warrant is being offered in connection with the financing.

Shares sold under the offering are expected to be free trading upon issuance, unless purchased via the over allotment option. Proceeds from the financing are to be used for further exploration within the Athabasca Basin.

The financing follows the company announcing in late November that it had encountered off-scale mineralization in a new uranium discovery at its Patterson Lake North property within the Athabasca Basin of Saskatchewan. The result comes from drill hole PLN22-035, where 15.0 metres of mineralization encountered over 300 cps, of which 1.5 metres had “total off scale radioactivity” within a 2.0 metre interval, indicating radioactivity was over 65,000 cps.

An additional hole later reported further sections of off-scale radioactivity, including 2.5 metres of off-scale radioactivity in hole PLN22-038. Drilling is reportedly still in progress.

Fission 3.0 last traded at $0.29 on the TSX Venture.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Fission 3.0 To Raise $5.0 Million Via Bought Deal Financing After Recent Uranium Discovery appeared first on the deep dive.



tsx venture

Share this article:

Uranium Exploration Company Announces Additional Staking in the Athabasca Basin

Source: Streetwise Reports 12/22/2023

Skyharbour Resources Ltd. announced an update from its Canada-based Falcon Project along with additional…

Share this article:

Published

on

By

Continue Reading
Energy & Critical Metals

Tesla Launches New Mega Factory Project In Shanghai, Designed To Manufacture 10,000 Megapacks Per Year

Tesla Launches New Mega Factory Project In Shanghai, Designed To Manufacture 10,000 Megapacks Per Year

Tesla has launched a new mega factory…

Share this article:

Published

on

Continue Reading
Energy & Critical Metals

Giving thanks and taking stock after “a remarkable year”

An end-of-year thank you to our readers, industry colleagues and advertisers before Electric Autonomy breaks from publishing until Jan. 2
The post Giving…

Share this article:

Published

on

Continue Reading

Trending