Denison Closes Arrangement With Rockgate Capital Corp.
January 17 2014 - 7:30AM
Marketwired
Denison Closes Arrangement With Rockgate Capital Corp.
TORONTO, ONTARIO--(Marketwired - Jan 17, 2014) - Denison Mines
Corp. ("Denison" or the "Company") (TSX:DML)(NYSEMKT:DNN) is
pleased to announce the closing of the previously announced
acquisition of Rockgate Capital Corp. ("Rockgate") by way of plan
of arrangement under the Business Corporations Act
(British Columbia) (the "Arrangement"). The Arrangement was
approved at a special meeting of Rockgate securityholders on
January 15, 2014 and by the Supreme Court of British Columbia on
January 16, 2014.
Pursuant to the Arrangement, Denison acquired all of the issued
and outstanding common shares of Rockgate not previously owned by
it for 0.192 of a Denison common share for each Rockgate common
share acquired. In addition, pursuant to the Arrangement all
Rockgate stock options terminated effective today.
Rockgate shareholders who have not yet done so are encouraged to
tender any remaining Rockgate shares by contacting Computershare
Investor Services Inc. toll free at 1-800-564-6253 or by email at
corporateactions@computershare.com.
Denison is also pleased to announce the appointment of Mr.
Tae-hwan Kim to the Board of Directors effective today. Mr. Kim
replaces Mr. Eun-ho Cheong who has resigned from the Board to
pursue his increased responsibilities at Korea Electric Power
Company ("KEPCO"), an international electric power company
headquartered in Korea and a significant shareholder of the
Company. The Board would like to thank Mr. Cheong for his excellent
contribution to Denison and wish him all the best in his future
endeavours.
Mr. Kim is General Manager of Overseas Resources at KEPCO and
has many years of expert experience managing both domestic and
large overseas resource projects including management of Safety and
Occupational Health. He has a degree in International Economics
from the Pusan National University and an MBA from the Seoul
National University in Korea.
About Denison
Denison is a uranium exploration and development company
with interests in exploration and development projects in Canada,
Zambia, Namibia, Mongolia and Mali. Including the high grade
Phoenix deposits, located on its 60% owned Wheeler project,
Denison's exploration project portfolio includes 46 projects and
totals approximately 597,000 hectares in the Eastern Athabasca
Basin region of Saskatchewan. Denison's interests in Saskatchewan
also include a 22.5% ownership interest in the McClean Lake joint
venture, which includes several uranium deposits and the McClean
Lake uranium mill, one of the world's largest uranium processing
facilities, plus a 25.17% interest in the Midwest deposit and a 60%
interest in the J-Zone deposit on the Waterbury property. Both the
Midwest and J-Zone deposits are located within 20 kilometres of the
McClean Lake mill. Internationally, Denison owns 100% of the
conventional heap leach Mutanga project in Zambia, an approximate
80% interest in the Dome project in Namibia, and an 85% interest in
the in-situ recovery projects held by the Gurvan Saihan joint
venture ("GSJV") in Mongolia. In addition, Denison is owns 100% of
the conventional uranium/copper/silver Falea project in
Mali.
Denison is engaged in mine decommissioning and environmental
services through its DES division and is the manager of UPC, a
publicly traded company which invests in uranium oxide and uranium
hexafluoride.
Cautionary Statements
Certain information contained in this press release constitutes
"forward-looking information", within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and similar
Canadian legislation concerning the business, operations and
financial performance and condition of Denison.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects"
or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur", "be achieved" or "has
the potential to".
Forward looking statements are based on the opinions and
estimates of management as of the date such statements are made,
and they are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Denison to be materially different
from those expressed or implied by such forward-looking statements.
Denison believes that the expectations reflected in this
forward-looking information are reasonable but no assurance can be
given that these expectations will prove to be correct and such
forward-looking information included in this press release should
not be unduly relied upon. This information speaks only as of the
date of this press release. In particular, this press release may
contain forward-looking information pertaining to the following:
the likelihood of completing and benefits to be derived from
corporate transactions; the estimates of Denison's mineral reserves
and mineral resources; expectations regarding the toll milling of
Cigar Lake ores; capital expenditure programs, estimated
exploration and development expenditures and reclamation costs;
expectations of market prices and costs; supply and demand for
uranium ("U3O8"); possible impacts of litigation and regulatory
actions on Denison; exploration, development and expansion plans
and objectives; expectations regarding adding to its mineral
reserves and resources through acquisitions and exploration; and
receipt of regulatory approvals, permits and licenses under
governmental regulatory regimes.
There can be no assurance that such statements will prove to be
accurate, as Denison's actual results and future events could
differ materially from those anticipated in this forward-looking
information as a result of the factors discussed in or referred to
under the heading "Risk Factors" in Denison's Annual Information
Form dated March 13, 2013 available at http://www.sedar.com, and in
its Form 40-F available at http://www.sec.gov/edgar.shtml.
Accordingly, readers should not place undue reliance on
forward-looking statements. These factors are not, and should not
be construed as being, exhaustive. Statements relating to "mineral
reserves" or "mineral resources" are deemed to be forward-looking
information, as they involve the implied assessment, based on
certain estimates and assumptions that the mineral reserves and
mineral resources described can be profitably produced in the
future. The forward-looking information contained in this press
release is expressly qualified by this cautionary statement.
Denison does not undertake any obligation to publicly update or
revise any forward-looking information after the date of this press
release to conform such information to actual results or to changes
in Denison's expectations except as otherwise required by
applicable legislation.
Denison Mines Corp.Ron HochsteinPresident and Chief Executive
Officer(416) 979-1991 ext 232Denison Mines Corp.Sophia
ShaneInvestor Relations(604) 689-7842www.denisonmines.com
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