Business
Denison Mines Announces Closing of US$86.3 Million Financing in Support of Strategic Acquisition of Physical Uranium
TORONTO, March 22, 2021 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has closed its p
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, March 22, 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 78,430,000 units of the Company at US$1.10 per unit for aggregate gross proceeds of US$86,273,000, which included 10,230,000 units through 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$2.25 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, as sole-bookrunner, and Haywood Securities Inc., and including Scotia Capital Inc., Canaccord Genuity Corp., TD Securities Inc., BMO Nesbitt Burns Inc., Cormark Securities Inc., Raymond James Ltd. and Paradigm Capital Inc. Net proceeds of the Offering are anticipated to be used to fund the strategic purchase of uranium concentrates (\"U3O8\") 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 of U3O8. The Offering was made by way of a prospectus supplement dated March 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...