TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
/NOT FOR RELEASE OR DISTRIBUTION IN
THE UNITED STATES/
KELOWNA,
BC, Nov. 19, 2024 /CNW/ - FISSION URANIUM
CORP. (TSX: FCU) (OTCQX: FCUUF) ("Fission" or the
"Company") announces that it has received a notice from the
Minister of Innovation, Science and Industry (the
"Minister") extending the national security review period
until December 30, 2024 of the
previously announced plan of arrangement (the "Arrangement")
with Paladin Energy Limited ("Paladin") under section 25.3
of the Investment Canada Act ("ICA").
Fission continues to engage with the Minister as part of the
section 25.3 process under the ICA. In light of the ongoing
national security review of the Arrangement, there can be no
certainty that Fission will be able to obtain ICA clearance in a
timely manner or at all. Failure to obtain ICA clearance would
prevent the Arrangement from being successfully completed.
Additional information regarding the terms of the Arrangement
are set out in the Company's management information circular dated
July 22, 2024 which is available
under Fission's profile at www.sedarplus.ca and on the
Company's website at
www.fissionuranium.com/investors/#sgmMaterials.
About Fission
Fission Uranium Corp. is an award-winning Canadian uranium
project developer and 100% owner of the Patterson Lake South
uranium property – a proposed high-grade uranium mine and mill in
Canada's Athabasca Basin region. Fission's common
shares are listed on the TSX Exchange under the symbol "FCU" and
trade on the OTCQX marketplace in the U.S. under the symbol "FCUUF"
and on the Frankfurt Stock Exchange under the symbol "2FU".
Cautionary Note Regarding Forward
Looking Statements
This announcement contains certain "forward looking statements"
within the meaning of Australian securities laws and "forward
looking information" within the meaning of Canadian securities laws
(collectively referred to as "forward looking statements"). All
statements, other than statements of historical fact, that address
circumstances, events, activities or developments that could, or
may or will occur are forward looking statements. Forward looking
statements involve subjective judgment and analysis and are subject
to significant uncertainties, risks and contingencies including
those risk factors associated with the mining industry, many of
which are outside the control of, change without notice, and may be
unknown to Paladin or Fission. These risks and uncertainties
include but are not limited to liabilities inherent in mine
development and production, geological, mining and processing
technical problems, the inability to obtain any additional mine
licences, permits and other regulatory approvals required in
connection with mining and third party processing operations,
competition for amongst other things, capital, acquisition of
reserves, undeveloped lands and skilled personnel, incorrect
assessments of the value of acquisitions, changes in commodity
prices and exchange rates, currency and interest fluctuations,
various events which could disrupt operations and/or the
transportation of mineral products, including labour stoppages and
severe weather conditions, the demand for and availability of
transportation services, the ability to secure adequate financing
and management's ability to anticipate and manage the foregoing
factors and risks.
Forward looking statements in this announcement include, but are
not limited to, statements regarding: the expected timetable,
outcome and effects of the Arrangement; the ability of Paladin and
Fission to complete the Arrangement on the terms described
herein or at all; the ability to obtain the requisite approvals for
the Arrangement; Fission's continued engagement with the Minister;
and the receipt and timing of ICA clearance.
Forward looking statements can generally be identified by
the use of forward looking words such as "anticipate", "expect",
"likely", "propose", "will", "intend", "should", "could", "may",
"believe", "forecast", "estimate", "target", "outlook", "guidance"
(including negative or grammatical variations) and other similar
expressions. No representation, warranty, guarantee or assurance, express
or implied, is given or made in relation to any
forward looking statement. In particular no representation,
warranty or assumption, express
or implied, is given in relation to any underlying assumption or that any forward
looking statement will be achieved. There can be no assurance that
the forward looking statements will prove to be accurate. Actual
and future events may vary materially from the forward looking
statements and the assumptions on which the forward looking
statements were based, because events and actual
circumstances frequently do not
occur as forecast and future results
are subject to known and unknown risks such as changes in
market conditions and regulations.
Given these uncertainties, readers
are cautioned not to place undue reliance
on such forward looking statements, and should rely
on their own independent enquiries,
investigations and advice regarding information contained in
this announcement. Any reliance by a reader on the information
contained in this announcement is wholly at the reader's own
risk.
To the maximum extent permitted by law or any relevant listing
rules of the ASX/TSX, Paladin and Fission and their respective
related bodies corporate and affiliates and their respective
directors, officers, employees, advisors, agents and intermediaries
disclaim any obligation or undertaking to
disseminate any updates or revisions to the information in this
announcement to reflect any change in
expectations in relation to any forward looking statements or any
such change in events, conditions or circumstances on which any
such statements were based. Nothing in this announcement will,
under any circumstances (including by reason of this announcement
remaining available and not being superseded or replaced by any
other announcement or publication with
respect to Paladin, Fission
or the subject matter of this announcement), create an implication that
there has been no change in the affairs of Paladin or Fission
since the date of this announcement.
SOURCE Fission Uranium Corp.