URANIUM: Fission to raise $12.5M+ for exploration

KELOWNA, British Columbia – Fission Uranium Corp. has entered into a deal with a syndicate of investors led by Dundee Securities for a $12.5-milion bought private placement. The underwriters have agreed to buy 8.35 million flow-through common shares at a price of $1.50 per share. The underwriters also have an option to purchase an additional 15% of the offering in whole or in part up to 48 hours prior to the closing date, Sept. 23, 2014.

The proceeds of the placement will be used to fund exploration at Fission's Canadian projects, chief among them Patterson Lake South in the Athabasca Basin of Saskatchewan.

The latest results from PLS have allowed Fission to expand the R780E zone to both the north and south. Three recent holes have returned high composite mineralization readings (>10,000 cps) radioactivity. In hole PLS14-259 the high reading extended over 11.0 metres; in hole PLS14-256 it was 8.5 metres; and in hole PLS14-247 it was 6.62 metres. The company said the degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende occurrences.

Updated maps and files from PLS can be found on Fission's website at FissionUranium.com/project/pls.