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Fission Closes C$34.5 Million Bought Deal Offering

Press Release

KELOWNA, BC , May 11, 2021  – FISSION URANIUM CORP. (“FISSION” or the “Company”) is pleased to announce that it has closed its previously announced bought deal financing consisting of 57,500,000 units (the ” Unit s “) at a price of C$0.60 per Unit for gross proceeds of C$34.5 million , inclusive of the full exercise of the over-allotment option held by the Underwriters (the ” Offering “).

Eight Capital and Sprott Capital Partners LP acted as co-lead underwriters on behalf of a syndicate of underwriters including Canaccord Genuity Corp., BMO Nesbitt Burns Inc. and H.C. Wainwright & Co., LLC (collectively, the ” Underwriters “).

Each Unit consisted of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a ” Warrant “). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a ” Warrant Share “) at a price of C$0.85 at any time on or before 5:00 pm on May 11 , 2024.

The Company intends to use the net proceeds of the Offering to fund the further development of the Triple R deposit in Saskatchewan and for working capital and general corporate purposes.

The Offering was completed pursuant to a prospectus supplement to the Company’s base shelf prospectus dated December 7, 2020 .

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the ” U.S. Securities Act “) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States , nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Fission Uranium

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia . Fission’s common shares are listed on the Toronto Stock Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.”


Ross McElroy


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