Fission 3 Regains Sole Ownership of Patterson Lake North
TSX VENTURE: FUU
/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/
KELOWNA, BC, March 28, 2019 /CNW/ - Fission 3.0 Corp. ("Fission 3" or the "Company") announces that it has increased its interest in Patterson Lake North property (the "Property"). Pursuant to a property option and joint venture agreement dated April 29, 2013 (the "Option and JV Agreement") between Fission Uranium Corp. and Azincourt Energy Corp. ("Azincourt"), which was later acquired by Fission 3, Azincourt earned an initial 10% interest in the Property. On December 18, 2018, Fission 3, as operator of the Property, sent Azincourt the approved exploration/development program and budget, which required Azincourt to elect whether to fund its share of the program (the "Cash Call"). Azincourt did not respond to the Cash Call within the time allotted under the Option and JV Agreement and is thereby deemed to have elected not to participate in the Cash Call. As a result, Azincourt's interest in the Property and joint venture is terminated and Fission 3 now owns a 100% interest in the Property. The Company has sent Azincourt a notice confirming the above.
About Patterson Lake North (PLN)
PLN is in the south-west area of Saskatchewan's Athabasca Basin, immediately adjacent and to the north of Fission Uranium's PLS project, which hosts the high-grade Triple R uranium deposit. With its proximity to large-scale, high-grade uranium deposits, and with multiple geological and geophysical interpreted features, including an extensive drill-identified mineralized corridor, PLN ranks highly in Fission 3's extensive portfolio.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common shares are listed on the TSX Venture Exchange under the symbol "FUU."
ON BEHALF OF THE BOARD
Dev Randhawa, Chairman & CEO
Fission 3.0 Corp.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "has," "now", "shall", "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.