Fission 3.0 Corp. Responds to OTC Markets Request on Recent Promotional Activity
Fission 3.0 Corp. Responds to OTC Markets
Request on Recent Promotional Activity
Kelowna, British Columbia--(Newsfile Corp. - January 26, 2023) - Fission 3.0 Corp. (TSXV: FUU) (the
"Company"
) announced today that it has been requested by OTC Markets Group Inc. ("
OTC Markets
")
to issue a statement about recent promotional activity concerning its common shares traded on the
OTCQB market.
On Wednesday, January 18, 2023, OTC Markets informed the Company that it became aware of certain
promotional activities concerning the Company and its common shares traded on the OTCQB market,
including the distribution of three promotional newsletter emails published by Crush the Street and
Wealth Research Group, affiliates of Gold Standard Media, LLC ("
Gold Standard
").
The Company entered into an advertising agreement with Gold Standard on
January 10, 2023, whereby
Gold Standard, along with its affiliates, would provide certain advertising services to the Company (the
"
Advertising Agreement
"). The Advertising Agreement has a one-month term, which commenced on
January 17, 2023, and an upfront payment of US$500,000 payable to Gold Standard on January 13,
2023. Gold Standard is arm's length to the Company.
The Company became aware of the distribution of each newsletter as of
January 16, 2023.
None of the Company or its officers are involved, directly, with the creation of the materials distributed by
Gold Standard. The Company provided Gold Standard with publicly available source information for their
disclosure and the only editorial control the Company exercised over the materials involved reviewing the
materials for accuracy prior to their dissemination. Each of the newsletters presented factual statements
regarding the uranium market, the Company's investors, the Company's current market cap, and
indicated the Company's attractiveness to investors.
The Company understands the promotional activity may have coincided with increased trading activity in
its common shares. The Company does not believe the promotional activities were a factor in any
increase in trading volume of its common shares.
The Company has experienced strong market activity
beginning in November of 2022 whereby the market price of its common shares have gone from a price
of $0.07 to $0.42 (an increase of 600%), the Company has not seen a direct correlation to the new
marketing distribution by Gold Standard and market activity.
The Corporation has made and disclosed a uranium discovery that has produced a large amount of
investor interest. In conjunction to this, over the last 5 months the Company had a total of 20,092,172
warrant and option exercises which it believes is contributing to the majority of the market activity as
securityholders seek to fund their exercise purchases.
Market interest in uranium is currently high and is impacting many corporations which have exploration or
mining projects within the uranium market. Market price for uranium in the past five years has increased
many times over and is fueling investor interest, and the Company believes that its current projects and
the disclosure of project activities is driving the market activity of its common shares.
The Company has determined that certain statements included in the newsletters are promotional but
confirms that the materials contain no factual inaccuracies or any material non-public information, and,
except as noted, confirms it had no editorial control of the content. Statements made on the promotional
materials and the potential performance of the Company's common shares are forward-looking and
speculative in nature.
Outside of the paid promotional campaign by Gold Standard, disclosure of previously publicly disclosed
information about the Company to Gold Standard and a review of certain prior drafts of the newsletters
produced by Gold Standard, to the Company's knowledge, after inquiry of its management and the
directors, neither the Company, nor any of its officers, directors, controlling shareholders or any third
party service providers have been involved with the creation, distribution, or payment of promotional
materials related to the Company and its securities.
All insiders are required by securities regulations to post and make public any acquisitions or
dispositions of securities. The Company relies on its insiders to post and track their positions. Certain
officers, directors and insiders were granted RSU's Dec 12, 2022, which have been filed on the System
for Electronic Disclosure by Insiders. Devinder Randhawa, Chairman, Chief Executive Officer and
Director of the Company, has purchased the Company's securities within the past 90 days. To the
Company's knowledge, after inquiry of its management and the directors, neither the Company, nor any
of its controlling shareholders or third-party service providers have sold or purchased the Company's
securities within the past 90 days.
The Company, in December of 2022, had a public offering of flow
through shares which were made available to insiders to participate in and any such participation was
disclosed.
The Company also entered into an engagement agreement with Sprott Capital Partners ("
SCP
") on
January 10, 2023 to act as financial advisors to the Company on strategic matters, including the
procurement of potential strategic investors (the "
Engagement Agreement
"). Pursuant to the
Engagement Agreement, the Company has agreed to pay SCP a $10,000 monthly work fee, which will
be offset against any fees SCP would receive if it acts as a financial advisor related to any acquisition,
divestiture, spin-out, sale or any other corporate transaction related to the Company. The Engagement
Agreement has a 24-month term which commenced on January 10, 2023, unless terminated earlier in
accordance with the terms of the Engagement Agreement.
Other than the engagement of Gold Standard and SCP, the Company has not engaged any third-party
providers to provide investor relations services, public relations services, marketing, or other related
services including the promotion of the Company or its securities in the last twelve months.
The Company has not issued shares or convertible instruments allowing conversion to equity securities
at prices constituting a discount to the current market rate at the time of the issuance in accordance with
the policies of the TSX Venture Exchange.
About Fission 3.0 Corp.
Fission 3.0 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 TSXV under the symbol "FUU".
ON BEHALF OF THE BOARD
"Dev Randhawa"
Dev Randhawa, CEO
For more information, please
contact
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/152645