Photo by: Reuters
TORONTO (miningweekly.com) – Athabasca basin explorer Fission Uranium on Friday announced that the TSX had given it conditional approval to move its common stock listing from the TSX-V Exchange to the main board.
The company explained that it expected its TSX-listed common shares to start trading when the morning bell rang on Wednesday.
Fission would maintain its current trading symbol – FCU.
The company’s common shares would be delisted from the TSX-V depending on the form satisfying the listing requirements of the TSX.
"We are very pleased to be moving to the TSX from the TSX-V. It is a reflection of the company's overall development and will open up doors to an even broader range of investors,” Fission CEO Dev Randhawa commented.
Canadian-based Fission explores for uranium on the underexplored western side of Canada's Athabasca basin, the world's richest and highest-grade source of the radioactive material.
The company was spun out to the shareholders of Fission Energy, after Fission Energy was acquired by Denison Mines in February, last year. In December, Fission Uranium consolidated 100% ownership of the Patterson Lake South (PLS) property, where it had made a high-grade uranium discovery in 2012, by acquiring all of the outstanding shares of Alpha Minerals.
The PLS Property, which now comprised 17 mineral claims equalling 31 309 ha, is Fission Uranium’s sole property asset.
The news sent the company’s shares climbing 4.71% on Friday to C$0.89 apiece on the TSX-V.