KELOWNA, BC – Fission Uranium Corp., owner and operator of the Patterson Lake South project in the Athabasca Basin, has agreed to purchase 22 million common shares of Fission 3.0 Corp. at a price of $0.14 per share. The arrangement will put a bit over $3 million in Fission 3’s treasury and leave Fission U with a 12% interest in the other company.
Fission 3 plans to use the proceeds of the transaction to advance its uranium exploration properties in the Athabasca Basin. The deal is scheduled to close on Feb. 24, and is subject to certain conditions and regulatory approval.
Fission 3 holds a portfolio of 18 properties, chief among them the Patterson Lake North and Clearwater West claims adjacent to the PLS project. Visit Fission3Corp.com for more information on these projects.