VANCOUVER and KELOWNA, BC – Fission Uranium Corp. has boosted its offer for Alpha Minerals to $7.67 per share from $7.26, and the two partners at the Patterson Lake South (PLS) uranium project are ready to become one for the sake of the project.
Part of the deal is that each company will spin out its non-cash assets and obligations other than the PLS joint venture. Current shareholders of each company will receive all of the common shares in their respective spin out companies.
In return for their 50% interest in PLS, Fission intends to issue 5.725 shares of itself for each share held by Alpha. That represents a 14.5% premium over the price of Alpha shares on Aug. 23, the day before Fission made its initial offer.
More information is posted at FissionUranium.com and AlphaMinerals.ca.