KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 23, 2015) - Fission 3.0 Corp. ("Fission 3") (TSX VENTURE:FUU) is pleased to announce the completion of the previously announced private placement, pursuant to which Fission Uranium has purchased, on a non-brokered basis (the "Transaction"), 22,000,000 common shares (the "Purchased Shares") of Fission 3 at a price of C$0.14 per Purchased Share for a total subscription price of C$3,080,000. The Purchased Shares have a hold period that expires June 24, 2015. The Purchased Shares represent approximately 12% of Fission 3's issued and outstanding share capital.
The proceeds from the Transaction will be used by Fission 3 to advance its current high profile early stage properties and for general working capital.
Ross McElroy, COO, and Chief Geologist for Fission 3.0, commented,
"Fission 3 is an aggressive project generator with a superb portfolio of properties in the Athabasca Basin district, all of which have the potential for high-grade, near-surface uranium mineralization similar to the Triple R deposit at PLS. This private placement will enable high-priority exploration at a number of our most prospective projects."
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol "FUU."
ON BEHALF OF THE BOARD
Ross McElroy, COO
Fission 3.0 Corp.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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