Business
Denison Announces Sale of Goviex Shares and Warrants for up to $41.6 Million
Denison Announces Sale of Goviex Shares and Warrants for up to $41.6 Million PR...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n \n \n \n Denison Announces Sale of Goviex Shares and Warrants for up to $41.6 Million\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 PR Newswire\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 21, 2021\n \n /PRNewswire/ -\n \n Denison Mines Corp.\n \n (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce it has entered into a private agreement to sell (the \"Transaction\") 32,500,000 common shares (\"GoviEx Shares\") of GoviEx Uranium Inc. (\"GoviEx\"), currently held by Denison for investment purposes, and 32,500,000 common share purchase warrants entitling the holder to acquire one (1) additional common share of GoviEx owned by Denison at an exercise price of\n \n $0.80\n \n for a term of 18 months (\"GoviEx Warrants\"). On closing of the Transaction, Denison will receive gross proceeds of\n \n $15,600,000\n \n and will continue to hold 32,644,000 common shares of GoviEx. If the GoviEx Warrants are exercised in full, Denison will receive further gross proceeds of\n \n $26,000,000\n \n and will transfer a further 32,500,000 common shares of GoviEx to the warrant holder.\n \n View PDF Version\n \n \n \n The agreement is with an existing institutional shareholder of GoviEx. The Transaction is subject to customary closing conditions and is expected to be completed before the end of October, 2021. The GoviEx Warrants, or common shares of GoviEx received on the exercise of the GoviEx Warrants, will be subject to a hold period of four months and one day from the closing date, in accordance with applicable\n \n securities laws.\n \n \n Denison intends to use the net proceeds of the Transaction for general corporate purposes.\n \n \n \n This press release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated\n \n September 28, 2021\n \n to its short form base shelf prospectus dated\n \n September 16, 2021\n \n .\n \n \n \n \n \n Early Warning Disclosure\n \n \n \n \n Upon closing of the Transaction, Denison will dispose of 32,500,000 GoviEx Shares at an attributed value of\n ...