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Denison Mines Announces Closing of US$28.75 Million Bought Deal Offering of Units
TORONTO, Feb. 19, 2021 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has closed its pr
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Feb. 19, 2021 /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has closed its previously announced bought deal public offering of units (the \"Offering\"). The Company issued 31,593,950 units of the Company at US$0.91 per unit for aggregate gross proceeds of approximately US$28.75 million, which includes 4,120,950 units with the full exercise of the underwriters' over-allotment option. Each unit consists of one common share and one-half of one transferable common share purchase warrant of the Company. Each full warrant is exercisable to acquire one Company common share at an exercise price of US$2.00 for 24 months after issuance. The warrants are not listed. The Offering was completed through a syndicate of underwriters co-led by Cantor Fitzgerald Canada Corporation and Haywood Securities Inc., as joint bookrunners, and including Canaccord Genuity Corp., Scotia Capital Inc. and TD Securities Inc. Proceeds of the Offering are anticipated to be used to fund evaluation and environmental assessment activities in support of the advancement of the proposed Phoenix in-situ recovery uranium mining operation (\"Phoenix\") on Denison's Wheeler River Uranium Project, as well as for general working capital purposes. Subject to a decision to advance to a formal Feasibility Study (\"FS\") for Phoenix, the proceeds from the Offering and current working capital are expected, based on current estimates, to be sufficient to complete such FS process. The Offering was made by way of a prospectus supplement dated February 16, 2021 (the \"Prospectus Supplement\") to the Company's existing Canadian short form base shelf prospectus dated June 2, 2020 (the \"Base Shelf Prospectus\"). The Prospectus Supplement has been filed with the securities commissions in each of the provinces and territories of Canada, except Quebec and is available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The securit...