If you didn’t catch Fission’s press release, we have now signed a definitive agreement with Denison regarding the sale of a large portion of Fission’s assets to Denison and the subsequent spin out of Fission Uranium Corp – the NewCo that will emerge with PLS as its flagship property. Fission shareholders at the time of the deal’s close will own shares in both companies. This definitive agreement replaces the binding letter of agreement that we announced in January.
I’m thrilled about this deal as I feel strongly that it delivers a number of solid benefits to the shareholders of both companies, specifically:
*Substantial value offered to Fission shareholders for the Assets
*The opportunity for Fission shareholders to simultaneously be a part of the NewCo (Fission Uranium Corp) with its extremely prospective Western Athabasca exploration portfolio (including the growing discovery at PLS) and the impressive assets of Denison, which include several advanced exploration properties plus an interest in the McClean Lake mill
*Fission Uranium Corp will be very well funded
*Fission Uranium Corp will continue forward under the leadership of the same successful management team that developed Fission
*Further solidifies Denison as the consolidator of strategic assets in the Athabasca Basin, to the benefit of both sets of shareholders
The press release includes a number of legal and technical details and I recommend you take the time to read through it. In the meantime, we continue to push forward with our drill programs and as you’ll know from recent press releases, we’ve been enjoying enormous success at PLS which as I’ve mentioned will become the flagship property of Fission Uranium Corp when it spins into existence upon completion of the deal with Denison.
As always, please get in touch with any questions and be sure to connect with us on Twitter and LinkedIn.
