VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 28, 2013) - FISSION URANIUM CORP. ("Fission") (TSX VENTURE:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) 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".
About Alpha Minerals Inc.
Alpha Minerals Inc. is a mineral exploration company whose principal focus is the exploration and development of uranium properties in Athabasca Basin in northern Saskatchewan, Canada. Common Shares are listed on the TSX Venture Exchange under the symbol "AMW".
ON BEHALF OF THE BOARD OF FISSION
Dev Randhawa, Chairman & CEO
ON BEHALF OF THE BOARD OF ALPHA
Ben Ainsworth, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement: Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation concerning the completion of the Arrangement. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward-looking statements contained in this press release may include statements regarding Fission's and Alpha's ability to complete the Fission Arrangement and Alpha Arrangement, respectively, and the anticipated effective date of the Fission Arrangement and Alpha Arrangement, which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: uncertainties as to the timing of the Fission Arrangement and Alpha Agreement and satisfaction of the respective conditions thereto, market conditions and other risk factors listed from time to time in Fission's and Alpha's reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and both Fission and Alpha disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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Fission Uranium Corp.
Alpha Minerals Inc.