Business
Denison Announces Five-Year Management Services Agreement with Uranium Participation Corporation
Denison Announces Five-Year Management Services Agreement with Uranium Participation Corpo...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n\n\n\nDenison Announces Five-Year Management Services Agreement with Uranium Participation Corporation\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\nCanada NewsWire\nTORONTO, April 4, 2019\n\n\n\n\nTORONTO, April 4, 2019 /CNW/ - Denison Mines Corp. (the \"Company\") (DML: TSX, DNN: NYSE American) is pleased to announce that, effective April 1, 2019, its wholly owned subsidiary, Denison Mines Inc. (\"Denison\" or the \"Manager\"), has entered into a new five year agreement (the \"MSA\") to provide management services to Uranium Participation Corporation (\"UPC\" or the \"Corporation\"). View PDF Version.\nDavid Cates, President & CEO of Denison and UPC commented \"Denison is pleased to have reached an agreement with UPC to continue as the Corporation's manager for a further five years. UPC is a well-respected and important contributor to the global uranium market, and we are proud of the relationship that Denison has nurtured with UPC since its inception.\" \nUnder the terms of the MSA, UPC appoints Denison to act as the manager of the Corporation and grants the Manager the authority and responsibility to manage and administer the business and affairs of UPC, subject to the oversight and applicable approvals from the Board of Directors of UPC. The Manager is responsible for providing the Corporation with certain executive officers, and any other staff necessary to carry out its responsibilities for the administration and oversight of UPC's uranium inventories, as well as UPC's financial reporting, investor relations and marketing activities.\nThe fees payable to Denison for providing these services to UPC under the MSA are unchanged from the previous management services agreement between Denison and UPC, and are summarized as follows:\na base fee of $400,000 per annum, payable in equal quarterly installments; a variable fee equal to (a) 0.3% per annum of UPC's total assets in excess of $100 million and up to and including $500 million; and (b) 0.2% per annum of UPC's total assets in excess of $500 million; a fee, at the discretion of the Boar...