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Denison Completes Private Placement of Flow-Through Shares for Proceeds of Approx. CAD$930,000
Denison Completes Private Placement of Flow-Through Shares for Proceeds of Approx. CAD$93...
About this update from Denison Mines Corp.
[{"type":"text","content":"\n \n \n \n Denison Completes Private Placement of Flow-Through Shares for Proceeds of Approx. CAD$930,000\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\n \n UNITED STATES\n \n NEWSWIRE SERVICES\n \n OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n ,\n \n Dec. 31, 2020\n \n /CNW/ -\n \n Denison Mines Corp.\n \n (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce that today it has completed a non-brokered private placement of common shares that qualify as \"flow-through shares\" for purposes of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"Flow-Through Shares\") at a price of\n \n CAD$0.86\n \n per share, for gross proceeds of approximately\n \n CAD$930,000\n \n (the \"Offering\").\n \n View PDF version\n \n \n \n The financing was priced on\n \n December 16, 2020\n \n at a 17% premium to the then 5-day volume weighted average price (\"VWAP\") of the Company's shares on the TSX.\n \n \n \n David Cates\n \n , President and CEO of Denison, commented,\n \n \"This small financing was led by strong insider participation – with Denison Directors and Officers accounting for over 50% of the Offering, even after a significant increase in the Company's share price during the first half of December.  These funds were raised selectively, on a flow-through basis and at a premium, with the primary purpose of allowing the Company to participate in exploration on non-operated joint venture projects, where work has been planned by the operator for early 2021.  Using the proceeds from this flow-through financing to fund exploration preserves the Company's non-flow-through capital, raised earlier in 2020, to fund the advancement of its flagship Wheeler River project.\"\n \n \n \n The Company has agreed to use the gross proceeds from the sale of the Flow-Through Shares for \"Canadian exploration expenses\" that also qualify as \"flow-through mining expenditures\" (wit...