The company intends to use the proceeds to fund uranium mining exploration on its projects in Canada.

A syndicate of underwriters, including BMO Capital Markets, Macquarie Capital Markets Canada, Raymond James and TD Securities claimed to have agreed to buy 11,600,000 flow-through common shares at a price of $1.5 each.

Underwriters have an option to purchase up to 15% of the offering, up to 30 days from to the closing of the offering.

Subject to certain conditions including Toronto Stock Exchange and regulatory authorities, the offering is scheduled to be closed on or about 29 April 2015.

Fission Uranium intends to give up such Canadian exploration expenses by 31 December 2015.