Business
Fission 3.0 Corp. Announces Upsize of Brokered Private Placement to up to C$7.5 Million
Kelowna, British Columbia--(Newsfile Corp. - December 8, 2021) - Fission 3.0 Corp. (TSXV: FUU)...
About this update from F3 Uranium Corp
[{"type":"text","content":"Fission 3.0 Corp. Announces Upsize of Brokered Private Placement to up to C$7.5 MillionKelowna, British Columbia--(Newsfile Corp. - December 8, 2021) - Fission 3.0 Corp. (TSXV: FUU) (the \"Company\") is pleased to announce that due to significant investor demand, the Company has increased the size of its previously announced \"best efforts\" private placement (the \"Offering\") from C$5,000,000 to up to C$7,500,000 from the sale of any combination of the following:units of the Company (each, a \"Unit\") at a price of C$0.21 per Unit;flow-through units of the Company (each, a \"FT Unit\") at a price of C$0.23 per FT Unit; andFT Units to be sold to charitable purchasers (each, a \"Charity FT Unit\") at a price of C$0.29 per Charity FT Unit. Each Unit will be comprised of one common share of the Company (each, a \"Unit Share\") and one common share purchase warrant (each, a \"Warrant\"). Each FT Unit will be comprised of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (Canada) (each, a \"FT Share\") and one half of one Warrant. Each Charity FT Unit will consist of one FT Share and one Warrant. Each whole Warrant shall entitle the holder to purchase one common share of the Company (each, a \"Warrant Share\") at a price of C$0.26 at any time on or before that date which is 24 months after the closing date of the Offering. Red Cloud Securities Inc. (the \"Agent\") is acting as sole agent and bookrunner under the Offering. The Agent will have an option, exercisable in full or in part up to 48 hours prior to the closing date of the Offering, to sell up to additional C$1,500,000 in any combination of Units, FT Units and Charity FT Units at their respective offering prices. The Company intends to use the proceeds raised from the Offering for future exploration work on the Company's projects, corporate development and general corporate and working capital purposes. The gross proceeds from the issuance of the FT Shares will be used for \"Canadian Exploration Expenses\" (within the meaning of the Income Tax Act (Canada)) (the \"Qualifying Expenditures\"), which will be renounced with an effective date no later than December 31, 2021 to the purchasers of the FT Units and Charity FT Units in an aggregate amount not less than the gross proceeds raised from the issue of the FT Sha...