Fission Uranium looking to list on the NYSEAs Dev pointed out in a recent interview, one thing that Fission has wanted to do for several years is move its US listing from the OTC to the NYSE. To do that requires adjusting Fission's trading metrics to meet the NYSE listing qualifications which require a far higher share price than today's. A higher share price with an NYSE listing also moves Fission into qualifying for investment by multi-$Billion institutional funds that require a higher trading price.
To facilitate a potential NYSE listing, Fission is asking shareholders to approve a "possible" 1 for 10 share Consolidation that, when the time is right, would allow for a consolidation to meet NYSE listing requirements.
With Uranium prices expected to move far higher over the next 12 months, having the necessary shareholder approval gives Fission the option to take advantage of a rise in interest in Uranium stocks to springboard from the OTC to NYSE when the conditions are right in the coming year.
On Page 8 of the Management Information Circular for the upcoming AGM they explain the purpose:
Purpose of the Consolidation
The Board believes the Consolidation to be in the best interest of the Company because it believes that the Consolidation is necessary for the flexibility to list its shares on a US exchange.
They also explain that the approval of the Consolidation does not mean it will happen. They only seek shareholder approval so the possibility is open when the time is right:
Approval of the Share Consolidation Resolution does not necessarily mean that the Board will implement the Consolidation. Even if the Share Consolidation Resolution is approved by shareholders at the Meeting, and accepted by the TSX, the Board will have the discretion not to proceed with the Consolidation.
An NYSE listing would put Fission on common ground with NexGen and Denison who both offer better access to the large US investing community via their NYSE listing. I have been pushing Fission to move to the NYSE and the arriving bull market in uranium may finally offer the ideal opportunity to do that in a rising commodity price environment.
I encourage you to vote Yes to the resolution so that shareholders can potentially see far higher share price appreciation in a full-blown uranium bull market where investors using trading apps and such will have better access to Fission's shares, along with the very large institutional funds community that can move share price signficantly when they move into the Uranium space.
Cheers!