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Fission 3.0 Corp. Responds to OTC Markets Request on Recent Promotional Activity
Kelowna, British Columbia--(Newsfile Corp. - January 26, 2023) - Fission 3.0 Corp. (TSXV: FUU) (t...
About this update from F3 Uranium Corp
[{"type":"text","content":"Fission 3.0 Corp. Responds to OTC Markets Request on Recent Promotional ActivityKelowna, British Columbia--(Newsfile Corp. - January 26, 2023) - Fission 3.0 Corp. (TSXV: FUU) (the \"Company\") announced today that it has been requested by OTC Markets Group Inc. (\"OTC Markets\") to issue a statement about recent promotional activity concerning its common shares traded on the OTCQB market.On Wednesday, January 18, 2023, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common shares traded on the OTCQB market, including the distribution of three promotional newsletter emails published by Crush the Street and Wealth Research Group, affiliates of Gold Standard Media, LLC (\"Gold Standard\"). The Company entered into an advertising agreement with Gold Standard on January 10, 2023, whereby Gold Standard, along with its affiliates, would provide certain advertising services to the Company (the \"Advertising Agreement\"). The Advertising Agreement has a one-month term, which commenced on January 17, 2023, and an upfront payment of US$500,000 payable to Gold Standard on January 13, 2023. Gold Standard is arm's length to the Company.The Company became aware of the distribution of each newsletter as of January 16, 2023. None of the Company or its officers are involved, directly, with the creation of the materials distributed by Gold Standard. The Company provided Gold Standard with publicly available source information for their disclosure and the only editorial control the Company exercised over the materials involved reviewing the materials for accuracy prior to their dissemination. Each of the newsletters presented factual statements regarding the uranium market, the Company's investors, the Company's current market cap, and indicated the Company's attractiveness to investors.The Company understands the promotional activity may have coincided with increased trading activity in its common shares. The Company does not believe the promotional activities were a factor in any increase in trading volume of its common shares. The Company has experienced strong market activity beginning in November of 2022 whereby the market price of its common shares have gone from a price of $0.07 to $0.42 (an increase of 600%), the Company has not seen a direct correlation to the new marke...