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Denison Announces Funding of Project Finance Initiative Involving Strategic Acquisition of Physical Uranium
Denison Announces Funding of Project Finance Initiative Involving Strategic Acquisition o...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n \n \n \n Denison Announces Funding of Project Finance Initiative Involving Strategic Acquisition of Physical Uranium\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n ,\n \n March 15, 2021\n \n /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has entered into an agreement with Cantor Fitzgerald Canada Corporation (\"CFCC\"), as lead underwriter and sole book-runner, on behalf of themselves and a syndicate of underwriters (collectively with CFCC, the \"Underwriters\"), under which the Underwriters have agreed to purchase, on a bought deal basis, 68,200,000 units of the Company (the \"Units\") at the price of\n \n USD$1.10\n \n per Unit (the \"Issue Price\") for aggregate gross proceeds of approximately\n \n USD$75\n \n million (the \"Unit Offering\").\n \n View PDF Version\n \n .\n \n \n Net proceeds of the Unit Offering are anticipated to be used to fund the strategic purchase of uranium concentrates (\"U\n \n 3\n \n O\n \n 8\n \n \" or \"Uranium\") to be held by Denison as a long-term investment, intended to support the potential future financing of the advancement and/or construction of the Company's flagship 90% owned Wheeler River Uranium Project (\"Wheeler River\"). Uranium purchases are planned to be made in the uranium spot market, with a target of accumulating approximately 2.5 million pounds U\n \n 3\n \n O\n \n 8\n \n .\n \n \n The purchased Uranium is expected to strengthen the Company's balance sheet and enhance its ability to access future project financing, with the potential collateralization of the Uranium holdings. In addition, the purchased Uranium could provide the Company with increased flexibility to negotiate long-term Uranium supply arrange...