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Denison Announces CAD$4.1 Million Bought Deal Private Placement of Flow-Through Shares
Denison Announces CAD$4.1 Million Bought Deal Private Placement of Flow-Through Shares ...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n\n\n\nDenison Announces CAD$4.1 Million Bought Deal Private Placement of Flow-Through Shares\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 18, 2019\n\n\n\n /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n \nTORONTO, Nov. 18, 2019 /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (DML: TSX; DNN: NYSE American) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation as a sole bookrunner and lead underwriter, on behalf of a syndicate of underwriters (together, the \"Underwriters\"), under which the Underwriters have agreed to purchase, on a \"bought deal\" private placement basis, 6,030,000 flow-through common shares (the \"Flow-Through Shares\") at a price of CAD$0.68 per share, for total gross proceeds of approximately CAD$4.1 million (the \"Offering\"). View PDF version\nDavid Cates, President and CEO of Denison, commented, \"This financing is expected to fund the Company's share of exploration expenditures in 2020, which are likely to be focused on the Company's 90% owned Wheeler River project and involve further exploration around and delineation of the high-grade Phoenix deposit.  Potential to add additional resources at Phoenix exists outside of the currently defined extents of the deposit – particularly around Zone B, where previous mineralized results remain open on section or the interpreted optimal exploration target remains untested, and at Zone C, which is not currently included in the mineral resource estimate, where similar targets exist. With several positive results returned from recent In-Situ Recovery ('ISR') field tests carried out at Phoenix, our confidence in the ISR mining method is increasing and we believe the time is right to go back to Phoenix and delineate the full extent of the mineralization, which will ultimately inform our mine planning activities and be incorporated into a future feasibility study for the project.\"\nThe Company has granted t...