Business
Denison Mines Increases Bought Deal Offering to US$17.4 Million
TORONTO, Oct. 8, 2020 /CNW/ - Denison Mines Corp. ("Denison" or the "Company") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has agreed with Ca
About this update from Denison Mines Corp.
[{"type":"text","content":" TORONTO, Oct. 8, 2020 /CNW/ - Denison Mines Corp. (\"Denison\" or the \"Company\") (TSX: DML) (NYSE American: DNN) is pleased to announce that it has agreed with Cantor Fitzgerald Canada Corporation (\"CFCC\") and Haywood Securities Inc. (\"Haywood\"), as co-lead underwriters and joint book-runners (the \"Co-Lead Underwriters\") on behalf of themselves and a syndicate of underwriters, including Canaccord Genuity Corp., Scotia Capital Inc. and TD Securities Inc. (collectively with CFCC and Haywood, the \"Underwriters\"), in connection with the previously announced bought deal offering of common shares of the Company (the \"Offered Shares\") at a price of US$0.37 per Offered Share (the \"Issue Price\"), to increase the size of the offering to 47,000,000 Offered Shares for aggregate gross proceeds of approximately US$17.4 million (the \"Offering\"). In addition, Denison has agreed to grant to the Underwriters an over-allotment option (the \"Over-Allotment Option\") exercisable, in whole or in part, at the sole discretion of the Underwriters to purchase up to an additional 7,050,000 Offered Shares at the Issue Price for a period of up to 30 days after the closing of the Offering, for potential additional gross proceeds to Denison of up to approximately US$2.6 million. Proceeds of the Offering are anticipated to be used to fund evaluation and environmental assessment activities on Denison's Wheeler River project, as well as for general working capital purposes. Denison will pay to the Underwriters a cash commission equal to 6.0% of the gross proceeds of the Offering, including any proceeds received from the exercise of the Over-Allotment Option. The Offering is expected to close on or about October 14, 2020 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the NYSE American. The Offering will be made by way of a prospectus supplement (the \"Prospectus Supplement\") to the Company's existing Canadian short form base shelf prospectus (the \"Base Shelf Prospectus\") and U.S. registration statement on Form F-10, as amended (File No. 333-238108) (the \"Registration Statement\"), each dated June 2, 2020. The Registration Statement was declared effective by the United States Securities and Ex...