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Denison Mines Announces Establishment of At-The-Market Program
TORONTO, Nov. 13, 2020 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has entered into
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Nov. 13, 2020 /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has entered into an equity distribution agreement dated November 13, 2020 (the \"Equity Distribution Agreement\"), providing for an at-the-market (\"ATM\") equity offering program, with Cantor Fitzgerald Canada Corporation (\"CFCC\"), Scotia Capital Inc. (together with CFCC, the \"Co-Lead Canadian Agents\"), Cantor Fitzgerald & Co. and Scotia Capital (USA) Inc. (together with the Co-Lead Canadian Agents, the \"Agents\"). The ATM will allow Denison, through the Agents, to, from time to time, offer and sell, in Canada and the United States through the facilities of the Toronto Stock Exchange (\"TSX\") and/or NYSE American, such number of common shares as would have an aggregate offering price of up to USD$20 million. Sales of the common shares, if any, will be made by means of ordinary brokers' transactions on the TSX and/or NYSE American or otherwise at market prices prevailing at the time of sale. The Company considers the ATM to be a valuable tool for potential future access to the public market, where equity offerings can occur at market prices and with significantly reduced costs. The timing and extent of the use of the ATM will be at the discretion of the Company. Accordingly, total gross proceeds from equity offerings under the ATM may be significantly less than the maximum of USD$20 million. As outlined in the prospectus supplement, the Company intends to use the proceeds from the ATM to fund its mineral property evaluation and project engineering activities, as well as general, corporate and administrative expenses. The ATM will be effective until July 2, 2022 unless terminated prior to such date by Denison or otherwise in accordance with the terms of the Equity Distribution Agreement. The sale of the Company's common shares through the ATM will be made pursuant to, and qualified in Canada by, a prospectus supplement dated November 13, 2020 (\"Prospectus Supplement\") to the base shelf prospectus of the Company dated June 2, 2020 (\"Base Prospectus\"), and in the United States pursuant to a prospectus supplement dated November 13, 2020 to the Company's final base shelf prospectus contained in the Company's registration statement Form ...