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Fission Energy raises $192,535 via placement

Last updated: 09:30 04 Jan 2013 AEDT, First published: 08:30 04 Jan 2013 AEDT

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Fission Energy (ASX:FIS) has raised A$192, 535 via a placement of 5.5 million fully paid ordinary shares to professional and sophisticated investors.

The placement was done at $0.035 per share under the 15% placement rule of the ASX.

A commission of 5% of the value of the funds raised will be paid to financial services licencees in respect of the placement.

The funds will be used for ongoing working capital requirements.

Fission recently made its maiden overseas expansion by signing two conditional agreements with Cambodian companies to acquire three gold and base metals exploration licences there.

As part of the agreement with Angkor Thmorpich Resources and Wild Bull Resources, it agreed to acquire a 100% interest in the three exploration licences covering a total area of 430 square kilometres in Western Cambodia.

It also has a joint venture with Barra Resources (ASX:BAR) on the Mt Thirsty Co-Ni project, which is located 20 kilometres northwest of Norseman in Western Australia.



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