/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Nov. 2, 2018
/CNW/ - Denison Mines Corp. ("Denison" or the "Company")
(DML: TSX; DNN: NYSE American) is pleased to announce that it has
entered into an agreement with Cantor Fitzgerald Canada Corporation
as a sole bookrunner and lead underwriter, on behalf of a syndicate
of underwriters (together, the "Underwriters"), under which the
Underwriters have agreed to purchase, on a "bought deal" private
placement basis, 4,950,495 flow-through common shares (the
"Flow-Through Shares") at a price of CAD$1.01 per share, for total gross proceeds of
approximately CAD$5,000,000 (the
"Offering"). View PDF version
The Company has granted the Underwriters an option to increase
the gross proceeds of the Offering by up to 10% (the "Underwriters'
Option"), exercisable in whole or in part at any time up to two
business days prior to the closing date. The Underwriters will seek
to arrange for substituted purchasers for the Flow-Through Shares
in one or more provinces of Canada.
The closing of the Offering is expected to occur on or about
November 23, 2018 and is subject to
the completion of formal documentation and receipt of regulatory
approvals, including the approval of the Toronto Stock Exchange and
the NYSE American. The Flow-Through Shares issued in connection
with the Offering will be subject to a statutory hold period in
accordance with applicable securities legislation.
The Company intends to use the gross proceeds from the sale of
the Flow-Through Shares for "Canadian exploration expenses" (within
the meaning of the Income Tax Act (Canada)), related to the Company's Canadian
uranium mining exploration projects in Saskatchewan. The Company has also agreed to
renounce such Canadian exploration expenses with an effective date
of no later than December 31,
2018.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca
Basin region of northern Saskatchewan,
Canada. In addition to its 90.0% owned Wheeler River
project, which ranks as the largest undeveloped high-grade uranium
project in the infrastructure rich eastern portion of the
Athabasca Basin region, Denison's
Athabasca Basin exploration
portfolio consists of numerous projects covering approximately
320,000 hectares. Denison's interests in the Athabasca Basin also include a 22.5% ownership
interest in the McClean Lake joint venture ("MLJV"), which includes
several uranium deposits and the McClean Lake uranium mill, which
is currently processing ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest and
Midwest A deposits, and a 65.45% interest in the J Zone deposit and
Huskie discovery on the Waterbury Lake property. Each of Midwest,
Midwest A, J Zone and Huskie are located within 20 kilometres of
the McClean Lake mill.
Denison is also engaged in mine decommissioning and
environmental services through its Denison Environmental Services
division and is the manager of Uranium Participation Corp., a
publicly traded company which invests in uranium oxide and uranium
hexafluoride.
Cautionary Statement Regarding Forward-Looking
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",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates", or "believes", or the negatives and/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". In particular,
this press release contains forward-looking information pertaining
to the following: the Company's expectations regarding the proposed
Offering, including the completion and use of proceeds thereof; and
Denison's percentage interest in its properties and its plans and
agreements with its joint venture partners, as
applicable.
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, performance or
achievements of Denison to be materially different from those
expressed or implied by 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 accurate and may differ materially
from those anticipated in this forward looking information. For a
discussion in respect of risks and other factors that could
influence forward-looking events, please refer to the factors
discussed in Denison's Annual Information Form dated March 27,
2018 under the heading "Risk Factors". These factors are not,
and should not be construed as being exhaustive. Accordingly,
readers should not place undue reliance on forward-looking
statements.
The forward-looking information contained in this press
release is expressly qualified by this cautionary statement. Any
forward-looking information and the assumptions made with respect
thereto speaks only as of the date of this press release. 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.
SOURCE Denison Mines Corp.