Fission and Alpha Both Receive Securityholder Approval of Their Respective Plans of Arrangement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 28, 2013) - FISSION URANIUM CORP. ("Fission") (TSX VENTURE:FCU)(FCUUF)(2FU.F) and ALPHA MINERALS INC. ("Alpha") (TSX VENTURE:AMW) are pleased to announce that each of their respective previously announced plans of arrangement (respectively, the "Fission Arrangement" and the "Alpha Arrangement"), have been approved by their respective securityholders today.
The Fission Arrangement, which involves spinning out of certain assets of Fission to Fission 3.0 Corp., was approved by shareholders and optionholders of Fission (together, the "Fission Securityholders") at a special meeting (the "Fission Meeting") of the Fission Securityholders held today. At the Fission Meeting, a special resolution approving the Fission Arrangement was approved by: (i) 99.55% of the votes cast by Fission shareholders; and (ii) 99.60% of the votes cast by Fission Securityholders, voting together as a single class.
The Alpha Arrangement, which involves acquisition of all shares of Alpha by Fission and spinning out of non-Patterson Lake South assets of Alpha to Alpha Exploration Inc., was approved by shareholders, optionholders and warrantholders of Alpha (together, the "Alpha Securityholders") at a special meeting (the "Alpha Meeting") of the Alpha Securityholders held today. At the Alpha Meeting, a special resolution approving the Alpha Arrangement was approved by: (i) 83.18% of the votes cast by Alpha shareholders; and (ii) 85.72% of the votes cast Alpha Securityholders, voting together as a single class. In addition, Alpha received minority approval of the Alpha Arrangement in accordance with Multilateral Instrument 61-101.
Both arrangements are still subject to final approval by the TSX Venture Exchange and the Court of Queen's Bench of Alberta (the "Court"). The Court hearings for obtaining the final orders approving the arrangements are scheduled to take place on November 29, 2013, and the completion of the both arrangements is expected to occur on December 6, 2013.
Additional information regarding the terms of the Fission Arrangement are set out in Fission's management information circular dated October 29, 2013, which is available under Fission's profile at www.sedar.com.
Additional information regarding the terms of the Alpha Arrangement are set out in Alpha's management information circular dated October 29, 2013, which is available under Alpha's profile at www.sedar.com.
About Fission Uranium Corp.
Fission Uranium 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 "FCU".