Fission Uranium (FCU-V) Sept 23, '14 has completed its previously announced private placement of 8.35 million flow-through common shares, at a price of $1.50 per flow-through share, for gross proceeds of $12,525,500. The offering was conducted on a bought-deal basis by a syndicate of underwriters led by Dundee Securities Ltd. and including BMO Nesbitt Burns Inc., Raymond James Ltd., Macquarie Capital Markets Canada Ltd. and Cantor Fitzgerald Canada Corp. On Sept. 16, 2014, the underwriters exercised their overallotment option in full to purchase an additional 1,252,500 flow-through shares at a price of $1.50 per flow-through share, which increased the total number of flow-through shares offered to 9,602,500 and the gross proceeds of the offering to $14,403,750.
In connection with the offering, the underwriters received a cash commission equal to 5.0 per cent of the gross proceeds raised under the offering (inclusive of the option), other than 162,100 flow-through shares offered to investors on a president's list in respect of which the underwriters received a cash commission equal to 2.5 per cent of the gross proceeds.
All securities issued are subject to a statutory hold period expiring on the date that is four months and one day following Sept. 23, 2014.
The company intends to use the gross proceeds of the offering for Canadian exploration expenses (within the meaning of the Income Tax Act (Canada)) related to the company's Canadian uranium mining exploration projects. The company has agreed to renounce such Canadian exploration expenses with an effective date of no later than Dec. 31, 2014. |
