Oct 31 2015
FISSION URANIUM CORP. updates shareholders on the important progress being made to create long-term value and corrects some inaccuracies released by an isolated entity with no experience in uranium exploration, which threatens to distract shareholders from the momentum Fission has.
"Now is an historic moment for Fission. After receiving an extremely positive Preliminary Economic Assessment for the asset, our leadership team is focused on executing a plan to build on the potential of PLS and the Triple R Deposit to become the lowest cost uranium producer in the world," said Chairman and CEO, Dev Randhawa. "We have strong positive momentum and a once in a lifetime asset that will provide long-term value for all shareholders."
As previously announced, Fission instituted an Advance Notice Bylaw as a matter of best corporate governance practice to provide Directors and Management of the Company with direction on the procedure for shareholder nomination of directors.
Recently an entity called FCU Oversight Canada Inc. ("FOCI"), which appears to only have one executive with nominal shareholdings in Fission, has made inaccurate statements and issued a press release suggesting it may nominate directors in accordance with the policy. Fission has had a long-standing history of strong shareholder engagement. Most recently, during the proposed transaction with Denison Mines, Mr. Randhawa hosted a town hall on October 16, 2015, responded to any shareholder inquiries including from FOCI and offered to speak to them further in person. Shortly thereafter, while the vote results actually increased to over 50% support of the proposed transaction, Fission's Board and Management realized they would not meet the required 66 2/3rd threshold. Fission responded to shareholders by canceling the meeting and terminating the transaction.
"As our track record demonstrates, we are ready and willing to talk and meet with our fellow shareholders at any time," Mr. Randhawa added. "We are always open to good, constructive ideas about how to create long-term value for all shareholders - after all, we're shareholders too. Now should be a time of opportunity, not for disruption and self-interest that threatens to hurt all shareholders."
Source: www.fissionuranium.com