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Denison Acquires 50% of JCU (Canada) Exploration Company, Limited and Increases Effective Interest in Wheeler River to 95%
Denison Acquires 50% of JCU (Canada) Exploration Company, Limited and Increases Effective...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n \n \n \n Denison Acquires 50% of JCU (Canada) Exploration Company, Limited and Increases Effective Interest in Wheeler River to 95%\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n TORONTO\n \n ,\n \n Aug. 3, 2021\n \n /CNW/ -\n \n Denison Mines Corp.\n \n (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce the completion of its acquisition of 50% ownership of JCU (\n \n Canada\n \n ) Exploration Company, Limited (\"JCU\"), from UEX Corporation (\"UEX\"), for cash consideration of\n \n $20.5 million\n \n .  Denison's acquisition of a 50% interest in JCU occurred immediately following UEX's acquisition of all the outstanding shares of JCU from Overseas Uranium Resources Development Co., Ltd. (\"OURD\") for cash consideration of\n \n $41 million\n \n .\n \n View PDF version\n \n \n \n \n David Cates\n \n , President and CEO of Denison, commented,\n \n \n \"Denison is pleased to have acquired a 50% interest in JCU – which holds a unique and valuable portfolio of strategic Canadian uranium interests, including a 10% interest in Denison's flagship Wheeler River project.  We believe there is considerable value in JCU's portfolio of assets and that this transaction is highly accretive for Denison shareholders.\n \n \n \n \n \n \n In addition to consolidating an effective 95% interest in Wheeler River, this acquisition expands Denison's leading\n \n Athabasca\n \n Basin development portfolio to include additional important Canadian uranium development projects such as Millennium and Kiggavik.\"\n \n \n \n \n \n JCU's Project Portfolio\n \n \n \n JCU holds a portfolio of twelve uranium project joint venture interests in\n \n Canada\n \n , including a 10% interest in Denison's 90% owned Wheeler River project, a 30.099% interest in the Millennium project (Cameco Corporation 69.901%), a 33.8123% interest in the Kiggavik project (Orano Canada Inc. 66.1877%), and a 34.4508% interest in the Christie Lake project (UEX 65.5492%).\n \n \n \n Term Loan to UEX\n \n \n \n ...