TORONTO, Sept. 28, 2021 /PRNewswire/ - Denison
Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE
American: DNN) is pleased to announce that it has entered into an
equity distribution agreement dated September 28, 2021 (the "Equity Distribution
Agreement"), providing for an at-the-market ("ATM") equity offering
program, with Cantor Fitzgerald Canada Corporation ("CFCC"), Scotia
Capital Inc. (together with CFCC, the "Co-Lead Canadian Agents"),
Cantor Fitzgerald & Co. and Scotia Capital (USA) Inc. (together with the Co-Lead Canadian
Agents, the "Agents"). View PDF version
The ATM will allow Denison, through the Agents, to, from time to
time, offer and sell, in Canada
and the United States through the
facilities of the Toronto Stock Exchange ("TSX") and/or NYSE
American, such number of common shares as would have an aggregate
offering price of up to USD$50
million. Sales of the common shares, if any, will be
made by means of ordinary brokers' transactions on the TSX and/or
NYSE American or otherwise at market prices prevailing at the time
of sale. The ATM will be effective until October 16, 2023 unless terminated prior to such
date by Denison or otherwise in accordance with the Equity
Distribution Agreement.
The Company considers the execution of the Equity Distribution
Agreement a routine capital markets matter, establishing the ATM as
a potentially valuable tool for future access to the public market,
where equity offerings can occur at market prices and with
significantly reduced costs. The timing and extent of the use
of the ATM will be at the discretion of the Company.
Accordingly, total gross proceeds from equity offerings under the
ATM could be significantly less than USD$50
million.
As outlined in the prospectus supplement, the Company intends to
use any proceeds from the ATM to fund its mineral property
evaluation and project engineering activities, long lead project
construction items as well as general, corporate and administrative
expenses. The actual allocation of the proceeds may vary
depending on the amount of proceeds raised, the time periods in
which the proceeds are raised, and the future developments in
relation to the Company's projects or unforeseen events.
The sale of the Company's common shares through the ATM will be
made pursuant to, and qualified in Canada by, a prospectus supplement dated
September 28, 2021 ("Prospectus
Supplement") to the base shelf prospectus of the Company dated
September 16, 2021 ("Base
Prospectus"), and in the United
States pursuant to a prospectus supplement dated
September 28, 2021 to the Company's
final base shelf prospectus contained in the Company's registration
statement Form F-10 (File No. 333-258939) as amended and declared
effective on September 17, 2021 (the
"U.S. Registration Statement") filed with the United States
Securities and Exchange Commission.
Copies of the Prospectus Supplement and Base Prospectus may be
obtained for free from SEDAR at www.sedar.com, and copies of the
Prospectus Supplement and U.S. Registration Statement containing
the Base Prospectus may be obtained for free from EDGAR on the SEC
website at www.sec.gov. Alternatively, any of the following Agents
participating in the ATM will arrange to send you these documents
if you make a request by contacting:
In the United
States:
|
|
Cantor Fitzgerald
& Co.
Attention: Equity
Capital Markets
499 Park
Avenue, 6th Floor,
New York, New York,
10022
Email:
prospectus@cantor.com
|
Scotia Capital (USA)
Inc.
Attention: Equity
Capital Markets
250 Vesey Street,
24th Floor
New York, New York,
10281
Email:
equityprospectus@scotiabank.com
Telephone:
212-225-6853
|
In Canada:
|
|
Cantor Fitzgerald
Canada Corporation
Attention: Equity
Capital Markets
181 University
Avenue, Suite 1500,
Toronto, ON, M5H
3M7
Email:
ecmcanada@cantor.com
|
Scotia Capital
Inc
Attention: Equity
Capital Markets,
Scotia Plaza, 62nd
Floor, 40 King Street West,
Toronto, ON M5H
3Y2,
Email:
equityprospectus@scotiabank.com
Telephone:
416-863-7704
|
The common shares that may be issued by the Company under the
ATM have been conditionally approved for listing on the TSX and
have been approved for listing on the NYSE American.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca
Basin region of northern Saskatchewan,
Canada. The Company has an effective 95% interest in its
flagship Wheeler River Uranium Project, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin
region of northern Saskatchewan.
Denison's interests in Saskatchewan also include a 22.5% ownership
interest in the McClean Lake joint venture ("MLJV"), which includes
several uranium deposits and the McClean Lake uranium mill that is
contracted to process the ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest Main and
Midwest A deposits, and a 66.90% interest in the Tthe Heldeth Túé
("THT," formerly J Zone) and Huskie deposits on the Waterbury Lake
property. Each of Midwest Main, Midwest A, THT and Huskie are
located within 20 kilometres of the McClean Lake
mill.
Through its 50% ownership of JCU, Denison holds additional
interests in various uranium project joint ventures in Canada, including the Millennium project (JCU
30.099%), the Kiggavik project (JCU 33.8123%) and Christie Lake (JCU 34.4508%).
Denison is also engaged in mine decommissioning and
environmental services through its Closed Mines group (formerly
Denison Environmental Services), which manages Denison's
Elliot Lake reclamation projects
and provides post-closure mine care and maintenance services to a
variety of industry and government clients.
Cautionary Statement Regarding Forward-Looking
Statements
Certain information contained in this news release
constitutes 'forward-looking information', within the meaning of
the applicable United States and
Canadian legislation concerning the business, operations and
financial performance and condition of Denison.
Generally, these forward-looking statements can be identified
by the use of forward-looking terminology such as 'plans',
'expects', 'budget', 'scheduled', 'estimates', 'forecasts',
'intends', 'anticipates', or 'believes', or the negatives and/or
variations of such words and phrases, or state that certain
actions, events or results 'may', 'could', 'would', 'might' or
'will be taken', 'occur', 'be achieved' or 'has the potential
to'.
In particular, this news release contains forward-looking
information pertaining to the following: the ATM and agreements
with the Agents with respect thereto; the use of proceeds of any
offerings that may be completed pursuant to the ATM; and
expectations regarding its joint venture ownership interests and
the continuity of its agreements with its partners.
Forward looking statements are based on the opinions and
estimates of management as of the date such statements are made,
and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Denison to be materially different
from those expressed or implied by such forward-looking statements.
For example, Denison may decide or otherwise be required to
discontinue its field test activities or other testing, evaluation
and development work at Wheeler River if it is unable to maintain
or otherwise secure the necessary resources (such as testing
facilities, capital funding, regulatory approvals, etc.) or
operations are otherwise affected by COVID-19 and its potentially
far-reaching impacts. Denison believes that the expectations
reflected in this forward-looking information are reasonable but no
assurance can be given that these expectations will prove to be
accurate and results may differ materially from those anticipated
in this forward-looking information. For a discussion in respect of
risks and other factors that could influence forward-looking
events, please refer to the factors discussed in Denison's Annual
Information Form dated March 26, 2021
under the heading 'Risk Factors'. These factors are not, and should
not be construed as being exhaustive.
Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking information
contained in this news release is expressly qualified by this
cautionary statement. Any forward-looking information and the
assumptions made with respect thereto speaks only as of the date of
this news release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this news release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.
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SOURCE Denison Mines Corp.