Fission receives court approval for spin-off of Fission 3.0 Corp.
FISSION URANIUM CORP. (“Fission” or the “Company”) (TSX-V: FIS) is pleased to announce that the previously announced Spin-Off Plan (the “Agreement”) in respect of certain assets of Fission to the then spin-off Fission 3.0 Corp. (“Fission Spinco”) by the Queen's Bench of Alberta Court. At the time the Agreement is entered into, each Fission Shareholder will hold: (i) one new common share of the Company after the date of the Agreement; and (ii) one common share of the spin-off Fission Spinco (a “Fission Spinco Share”).
The agreement is subject to the final approval of the TSX Venture Exchange (the "TSX V"). The conclusion of the agreement we for 6. December 2013 expects and trading the Fission Spinco shares is scheduled to enter the TSX-V market at 10. December 2013.
Dev Randhawa, Chairman and CEO of Fission Uranium said:
"I would like to thank our legal advisory team, financial advisors and management for their hard work and make this transaction possible. It has been a fascinating and gigantic year for the PLS project and I already know that we are facing an aggressive winter exploration program. "
As already in Fission Management newsletter from the 29. October 2013 (the "Circular"), the TSX-V has determined that it will apply the applicable trading process rules in connection with the distribution of the Fission Spinco Shares to the Fission Shareholders. Following these rules, the Fission Spinco Shares will be traded on a "due bill" basis on the TSX-V during the 4 period. December 2013 to 9. December 2013 be acted as if the Fission Spinco shares had already been paid to the Fission shareholders. (the "Due Bill Period"). Holder of the Fission shares via 6. December 2013, including the buyers of Fission shares during the Due Bill period das rechtTo get Fission Spinco shares. Any transaction that takes place during the due-bill period will be automatically marked, giving the buyer the rights to purchase Fission Spinco shares. Sellers of Fission shares during the Due Bill period have no right to Fission Spinco shares.
Trading in the Fission Spinco shares will start on the TSX-V on an "ex-offsetting basis" for the opening of the 10 market. December 2013 whereby the buyers of the Fission shares no longer then that to be rightTo receive Fission Spinco shares under the agreement. The due bills expire on the 12. December 2013 once all attached due bills have been settled during the Due Bill period.
The possible dates may still change due to various reasons, such as: B. no approval by third parties involved needed to satisfy further conditions for the conclusion of the agreement. Investors are encouraged to discuss with their inclined financial advisors to discuss the various implications for their particular investment situation prevailing at each investment date.
Additional information regarding the terms of the agreement can be found in the circular available under Fission's profile at www.sedar.com.
About Fission:
Fission Uranium Corp. is a Canadian resource exploration company specializing in the strategic acquisition, exploration and development of uranium deposits, based in Kelowna, British Columbia. The common stock is listed on the TSX Venture Exchange under the symbol "FCU". In addition, the shares are traded on the OTCQX in the US under the symbol "FCUUF".
On behalf of the Board of Directors Investor Relations
Rich Matthews
"Dev Randhawa" TF: 877-868-8140
ppgad@pucrs.br
Dev Randhawa, Chairman & CEO www.fissionuranium.com
For the German-speaking area:
Swiss Resource Capital AG
Jochen Staiger
ppgad@pucrs.br
www.resource-capital.ch
Risk Warning: Certain information in this press release contains "forward-looking information" in accordance with Canadian law. Generally speaking, these forward-looking statements can be identified by terms such as “planned”, “expected” or “not expected”, “is expected”, “budget”, “planned”, “estimated”, “forecast”, “intended” , "Assumed" or ". Not expected", or "believed", or variations of these words and phrases. Certain actions or events such as “may”, “could”, “would”, “maybe” or “possibly”, “occur”, “can be achieved” or “has the potential for” can also occur. Forward looking statements in this press release contain statements relating to the demerger and listing of Fission Uranium and future operations. Or the financial performance of Fission and Fission Uranium relate to known and unknown risks and uncertainties. Current results and statements could differ materially from the expected and predicted statements made in the forward-looking statements. Such statements result in their entirety from inherent risks and uncertainties that are caused by future expectations. Events that can have a significant impact on current results are: market conditions and other risk factors that may appear in our documented reports by the Canadian Exchange Commission. You can find these under SEDAR at www.sedar.com. The forward-looking statements in this press release are as of the date of the press release, and the Company and Fission Uranium assume no responsibility or liability for any change in the forward-looking statements or any new occurrences that may arise, except as disclosed in accordance with the rules of Canadian stock exchange law given. Only the original English version of this press release applies.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as determined by the rules of the TSX Venture Exchange) accept responsibility for the accuracy and authenticity of this release.
No liability is assumed for the accuracy of the translation! Please note english original message!
Source: IRW-Press.com.
