Dec 8 2015
FISSION URANIUM CORP. is pleased to announce it has received the prestigious "Exploration of the Year" Mining Journal award, announced at Mines & Money, in recognition of its ongoing success at its Patterson Lake South (PLS) property in Saskatchewan, Canada.
The award is a direct result of the exploration expertise of Fission's technical team, led by Ross McElroy, President, COO and Chief Geologist and the fund raising skills of the Company's management team, led by Dev Randhawa, Chairman and CEO.
In addition, Glass, Lewis & Co., LLC ("Glass Lewis"), a leading proxy advisory firm, has recommended shareholders vote FOR all resolutions including the board's proposed nominees at Fission's upcoming annual meeting to be held on December 15, 2015.
"These are two important endorsements of our team's leadership and confirm we are on the right track. First, winning one of the most coveted exploration awards in the mining industry is a tremendous affirmation of our ongoing accomplishments at PLS. It is the first time this award has been won by a uranium explorer in many years, which not only further highlights the expertise of our team but also places PLS, Saskatchewan and the uranium industry firmly in the world spotlight," said Dev Randhawa, Fission's Chairman and CEO. "Second, Glass Lewis' important recommendation means yet another leading independent third party has endorsed our board nominees. We urge Fission shareholders to follow Glass Lewis and ISS' endorsements and vote FOR all resolutions including the board's proposed nominees."
This recommendation from Glass Lewis follows the earlier recommendation announced on November 27, 2015 by Institutional Shareholder Services Inc. ("ISS"), another leading independent proxy advisory firm, favouring all resolutions, including the board's proposed nominees. ISS has reiterated its positive recommendation after the dissident nominees were withdrawn.
In recommending that Fission shareholders vote FOR all resolutions including the board's proposed nominees, Glass Lewis identified the board having instituted several positive governance reforms including:
- the reconstitution of the board such that more than two-thirds of its membership is independent
- the reconstitution of all key committees such that they are entirely independent
- the appointment of an independent lead director
- the Company has made visible substantial efforts to engage with shareholders regarding their potential grievances
- the advanced notice policy adopted by the board is consistent with market practices as it is reasonable for a board to enact a series of provisions that allow for the fair consideration of both shareholder nominees and incumbent nominees