/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Dec. 6, 2019 /CNW/ - Denison Mines
Corp. ("Denison" or the "Company") (DML: TSX; DNN: NYSE
American) is pleased to announce that it has completed its
previously announced private placement offering of common shares
issued on a "flow-through" basis pursuant to the Income Tax
Act (Canada) ("Flow-Through
Shares"). View PDF version
The Company issued 6,934,500 Flow-Through Shares, at a price of
CAD$0.68 per Flow-Through Share, for
total gross proceeds of approximately CAD$4,715,000, which includes the exercise, in
full, of the over-allotment option of an additional 904,500
Flow-Through Shares.
The Flow-Through Shares were issued through a syndicate of
underwriters led by Cantor Fitzgerald Canada Corporation as sole
bookrunner and including Haywood Securities Inc., TD Securities
Inc., and BMO Nesbitt Burns Inc. The Flow-Through Shares are
subject to a four-month hold period, which will expire on
April 7, 2020.
The Company has agreed to use the gross proceeds from the
sale of the Flow-Through Shares for "Canadian exploration
expenses" that will qualify as "flow-through mining
expenditures" (within the meaning of the Income Tax
Act (Canada)) and
anticipates using the gross proceeds for expenses related to
the Company's uranium mining exploration projects in
Saskatchewan on or prior to December
31, 2020 for renunciation to subscribers of
Flow-Through Shares effective on or prior to December 31,
2019.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca
Basin region of northern Saskatchewan,
Canada. The Company's flagship project is the 90% owned
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, which is currently processing ore from the Cigar
Lake mine under a toll milling agreement, plus a 25.17% interest in
the Midwest deposits and a 66.51% interest in the J Zone and Huskie
deposits on the Waterbury Lake property. The Midwest, J Zone and
Huskie deposits are located within 20 kilometres of the McClean
Lake mill. In addition, Denison has an extensive portfolio of
exploration projects in the Athabasca Basin region.
Denison is engaged in mine decommissioning and environmental
services through its DES division, which manages Denison's
Elliot Lake reclamation projects
and provides post-closure mine and maintenance services to industry
and government clients.
Denison is also the manager of Uranium Participation
Corporation, a publicly traded company listed on the TSX under the
symbol 'U', which invests in uranium oxide in concentrates
('U3O8') and uranium hexafluoride
('UF6').
Cautionary Statement Regarding Forward-Looking
Statements
Certain information contained in this press 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 press release contains forward-looking
information pertaining to expectations regarding the completion and
use of proceeds thereof; exploration, development and expansion
plans, objectives and regulatory processes; and Denison's
percentage interest in its properties and its plans and agreements
with its joint venture partners, as applicable.
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, performance or
achievements of Denison to be materially different from those
expressed or implied by forward-looking statements. 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 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 12, 2019 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 press 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 press release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this press release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.
SOURCE Denison Mines Corp.