Led by Dundee Securities, the offering included 8,350,000 flow through common shares at $1.5 per share, and was conducted on a bought deal basis by a syndicate of underwriters.
Underwriters include BMO Nesbitt Burns, Raymond James, Macquarie Capital Markets Canada and Cantor Fitzgerald Canada.
An additional 1,252,500 flow through shares were exercised through over-allotment option by the underwriters, increasing gross proceeds of the offering to $14.4m.
The underwriters have been issued a commission of 5% of the proceeds raised under the offering, including the option, in addition to a cash commission of 2.5% of the gross proceeds as part of 162,100 flow through shares offered to investors on a ‘President’s List’.
Fission Uranium has agreed to give up such exploration expenses by 31 December 2014.
