KELOWNA, BRITISH COLUMBIA--(Marketwired - Dec. 7, 2015) - FISSION URANIUM CORP. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) ("Fission" or "the Company") is pleased to announce it has received the prestigious "Exploration of the Year" Mining Journal award, announced at Mines & Money, in recognition of its ongoing success at its Patterson Lake South (PLS) property in Saskatchewan, Canada. The award is a direct result of the exploration expertise of Fission's technical team, led by Ross McElroy, President, COO and Chief Geologist and the fund raising skills of the Company's management team, led by Dev Randhawa, Chairman and CEO.
In addition, Glass, Lewis & Co., LLC ("Glass Lewis"), a leading proxy advisory firm, has recommended shareholders vote FOR all resolutions including the board's proposed nominees at Fission's upcoming annual meeting to be held on December 15, 2015.
"These are two important endorsements of our team's leadership and confirm we are on the right track. First, winning one of the most coveted exploration awards in the mining industry is a tremendous affirmation of our ongoing accomplishments at PLS. It is the first time this award has been won by a uranium explorer in many years, which not only further highlights the expertise of our team but also places PLS, Saskatchewan and the uranium industry firmly in the world spotlight," said Dev Randhawa, Fission's Chairman and CEO. "Second, Glass Lewis' important recommendation means yet another leading independent third party has endorsed our board nominees. We urge Fission shareholders to follow Glass Lewis and ISS' endorsements and vote FOR all resolutions including the board's proposed nominees."
This recommendation from Glass Lewis follows the earlier recommendation announced on November 27, 2015 by Institutional Shareholder Services Inc. ("ISS"), another leading independent proxy advisory firm, favouring all resolutions, including the board's proposed nominees. ISS has reiterated its positive recommendation after the dissident nominees were withdrawn.
In recommending that Fission shareholders vote FOR all resolutions including the board's proposed nominees, Glass Lewis identified the board having instituted several positive governance reforms including:
- the reconstitution of the board such that more than two-thirds of its membership is independent
- the reconstitution of all key committees such that they are entirely independent
- the appointment of an independent lead director
- the Company has made visible substantial efforts to engage with shareholders regarding their potential grievances
- the advanced notice policy adopted by the board is consistent with market practices as it is reasonable for a board to enact a series of provisions that allow for the fair consideration of both shareholder nominees and incumbent nominees
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 firstname.lastname@example.org.
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."
About Glass Lewis
Glass Lewis is a leading provider of governance services that support engagement among institutional investors and corporations through its research, proxy vote management and technology platforms. Glass Lewis empowers institutional investors to make sound voting decisions at more than 20,000 meetings a year by uncovering and assessing governance, business, legal, political and accounting risks at issuers domiciled in 100 countries.
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.