Denison Mines Corp. Completes CDN$14,950,000 Flow-Through Share Offering
29 May 2013 - 7:17AM
Marketwired
Denison Mines Corp. (TSX:DML)(NYSE MKT:DNN) ("Denison" or the
"Company") announces that it has completed its previously announced
private placement offering (the "Offering") of common shares
("Flow-Through Shares") issued on a "flow-through" basis pursuant
to the Income Tax Act (Canada).
At closing today, 11,500,000 Flow-Through Shares, were issued
through a syndicate of underwriters, at a price of $1.30 per
Flow-Through Share for aggregate gross proceeds to Denison of
$14,950,000. The proceeds include $1,950,000 from the issuance of
1,500,000 Flow-Through Shares purchased at the option of the
underwriters. The Flow-Through Shares are subject to a four-month
hold period which will expire on September 29, 2013.
The proceeds of the Offering will be used to incur eligible
Canadian Exploration Expenses for purposes of the Income Tax Act
(Canada), which will be renounced to the subscribers with an
effective date no later than December 31, 2013. Denison intends to
use the proceeds of the Offering to explore and advance its
Canadian mining projects in the Athabasca Region of
Saskatchewan.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein in
the United States. The securities described herein have not been
and will not be registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold in the United
States absent an exemption from the registration requirements of
such Act.
About Denison
Denison is a uranium exploration and development company with
interests in exploration and development projects in Canada,
Zambia, Namibia, and Mongolia. Including the high grade Phoenix
deposits, located on its 60% owned Wheeler project, Denison's
exploration project portfolio includes 50 projects and totals
approximately 658,000 hectares in the Eastern Athabasca Basin
region of Saskatchewan. Denison's interests in Saskatchewan also
include a 22.5% ownership interest in the McClean Lake joint
venture, which includes several uranium deposits and the McClean
Lake uranium mill, one of the world's largest uranium processing
facilities, plus a 25.17% interest in the Midwest deposit and a 60%
interest in the J-Zone deposit on the Waterbury property. Both the
Midwest and J-Zone deposits are located within 20 kilometres of the
McClean Lake mill. Internationally, Denison owns 100% of the
conventional heap leach Mutanga project in Zambia, a 75% interest
in the newly acquired Dome project in Namibia, and an 85% interest
in the in-situ recovery projects held by the Gurvan Saihan joint
venture in Mongolia.
Denison is engaged in mine decommissioning and environmental
services through its Denison Environmental Services division and is
the manager of Uranium Participation Corporation, a publicly traded
company which invests in uranium oxide and uranium
hexafluoride.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release constitutes
"forward-looking information", within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and similar
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"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", 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".
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.
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 correct and such
forward-looking information included in this press release should
not be unduly relied upon. This information speaks only as of the
date of this press release. In particular, this press release
contains forward-looking information pertaining to the use of
proceeds from the Offering, the ability of the Company to renounce
expenses incurred to subscribers on a flow-through basis and plans
of the Company to explore and advance its Canadian mining
projects.
There can be no assurance that such statements will prove to be
accurate, as Denison's actual results and future events could
differ materially from those anticipated in this forward-looking
information as a result of the factors discussed in or referred to
under the heading "Risk Factors" in Denison's Annual Information
Form dated March 13, 2013 available at http://www.sedar.com, and in
its Form 40-F available at http://www.sec.gov/edgar.shtml.
Accordingly, readers should not place undue reliance on
forward-looking statements. These factors are not, and should not
be construed as being, exhaustive. Statements relating to "mineral
reserves" or "mineral resources" are deemed to be forward-looking
information, as they involve the implied assessment, based on
certain estimates and assumptions that the mineral reserves and
mineral resources described can be profitably produced in the
future. The forward-looking information contained in this press
release is expressly qualified by this cautionary statement.
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.
Contacts: Denison Mines Corp. Ron Hochstein President and Chief
Executive Officer (416) 979-1991 (416) 979-5893 (FAX) Denison Mines
Corp. Sophia Shane Investor Relations (604) 689-7842
www.denisonmines.com
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