Fission Uranium Corp. entered into an agreement with Canaccord Genuity Corp. and SCP Resource Finance LP, leading a syndicate of underwriters, for a "bought deal" basis offering of 63,560,000 common shares at C$1.18 each, amassing C$75,000,800 in gross proceeds. This transaction, set to close on or about February 12, 2024, includes an over-allotment option for the underwriters to purchase up to an additional 15% of the common shares at the offering price within 30 days post-closing for over-allotments and market stabilization. The proceeds are designated for the exploration and development of the PLS project, alongside working capital and general corporate uses.

The offering is conditional on regulatory approvals and will be facilitated through a prospectus supplement under the company's base shelf prospectus, excluding Quebec. In the U.S., the shares may be sold on a private placement basis exempt from the U.S. Securities Act registration requirements. This offering marks a significant step for Fission Uranium in securing funding for its PLS project development, underlining its strategic initiatives in uranium exploration and development.