Under the terms of the deal, Fission Uranium purchased 22,000,000 common shares of Fission 3.0 at a price of C$0.14.

Fission Uranium said it acquired the stake for investment purposes, and could acquire additional securities or dispose securities of Fission 3.0 through private agreement depending on market conditions.

Fission 3.0 plans to use the proceeds to fund exploration on some of its most prospective projects, and for general working capital.

Fission 3.0 chief geologist and COO Ross McElroy said: "Fission 3.0 is an aggressive project generator with a superb portfolio of properties in the Athabasca Basin district, all of which have the potential for high-grade, near-surface uranium mineralization similar to the Triple R deposit at PLS.

"This private placement will enable high-priority exploration at a number of our most prospective projects."