KELOWNA, BRITISH COLUMBIA--(Marketwired - Dec. 2, 2015) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or the "Company") comments on the decision by Mr. Jim Gifford to withdraw his nominees for consideration at the upcoming annual meeting of shareholders on December 15, 2015.
"We are not surprised given the fact the vast majority do not own shares and the fact leading proxy advisory firm, Institutional Shareholder Services ("ISS"), has recommended against them and for the current board," said William Marsh, Lead Director. "This withdrawal now is the final indication they lack the support of other shareholders who have strongly endorsed continuing with the current board."
It is unfortunate, but not surprising, that after several meetings with Mr. Gifford, the group he represents has still decided to put their interests ahead of other shareholders' in an attempt to disrupt and distract from management's focus on advancing the PLS project.
We are pleased with the shareholder support we have received to date and look forward to your continued support as we head into the meeting and beyond as we execute on our long-term strategy to create value.
Attention Fission shareholders:
Be sure to vote your BLUE proxy before Friday, December 11, 2015 at 11:00 AM (Vancouver time) / 2:00 PM (Toronto time).
For more information and assistance in voting your BLUE proxy, please contact Kingsdale Shareholder Services at 1-877-659-1824 toll-free in North America or call collect at 416-867-2272 outside of North America or by email at email@example.com.
Fission has retained Kingsdale Shareholder Services as its strategic advisor and Blake, Cassels & Graydon LLP as its legal advisor.
About Fission Uranium
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property - host to the world-class Triple R uranium deposit - and is headquartered in Kelowna, British Columbia. 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."
This press release to shareholders contains "forward-looking statements" within the meaning of applicable Canadian securities legislation (forward-looking information and forward-looking statements being collectively herein after referred to as "forward-looking statements") that are based on expectations, estimates and projections as at the date of this letter. These forward-looking statements include but are not limited to: statements relating to strategies designed to accelerate shareholder value; continued development of the PLS and its Triple R Deposit; future financial or operating performance of Fission; anticipated developments in operations; and success of exploration activities. These forward-looking statements are based on the beliefs of Fission's management, as well as on assumptions which such management believes to be reasonable based on information currently available at the time such statements were made. Such assumptions include, but are not limited to, assumptions about: general business and economic conditions; the supply and demand, and the level and volatility of, the price of uranium; changes in credit markets and conditions in financial markets generally; the Company's ability to attract and retain skilled staff; and market competition. We caution you that the foregoing list of important factors and assumptions is not exhaustive. There can be no assurance that the forward-looking statements will prove to be accurate.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Fission to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, without limitation: risks related to Fission's limited business history; that Fission has no history of mineral production or mining operations; discrepancies between actual and estimated mineral resources; risks caused by factors beyond Fission's control, such as uranium market price volatility, recovery rates of minerals from mined ore and demand for nuclear power; risks related to competition in the mineral industry; risk related to uranium industry competition and international trade restrictions; the potential deregulation of the electrical utility industry; competition of nuclear power with other energy sources; risks related to Fission's title to the PLS Property; risks related to dependence on key personnel; and risks of not meeting exploration budget forecasts. Although Fission has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this letter and, other than as required by applicable securities laws, Fission assumes no obligation to update or revise them to reflect new events or circumstances.