Fission Uranium nears $82M investment from China's CGN
Dec 21 2015, 16:39 ET | About: Fission Uranium Corp. (FCUUF) | By: Carl Surran, SA News Editor
Fission Uranium (OTCQX:FCUUF) signs a letter of intent with China's CGN Mining to acquire a 19.9% stake in Fission for $82.2M, representing China’s first direct investment into a Canadian uranium firm.
The two groups also plan to enter an offtake agreement in which CGN would buy uranium output from Fission’s Patterson Lake South property in Saskatchewan.
CGN is controlled by China General Nuclear Power Corp., one of China’s two giant nuclear power firms; China has 21 nuclear reactors under construction and 43 more that are planned, far more than any other country.
China’s first direct investment into a Canadian uranium firm
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