/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, Nov. 23, 2018 /CNW/ - Denison Mines
Corp. ("Denison" or the "Company") (DML: TSX; DNN: NYSE
American) is pleased to announce that it has completed its
previously announced private placement offering (the "Offering") of
common shares issued on a "flow-through" basis pursuant to the
Income Tax Act (Canada)
("Flow-Through Shares"). View PDF Version
The Company issued 4,950,495 Flow-Through Shares, at a price of
CAD$1.01 per Flow-Through Share, for
total gross proceeds of approximately CAD$5,000,000.
The Flow-Through Shares were issued through a syndicate of
underwriters led by Cantor Fitzgerald Canada Corporation as sole
bookrunner and including Haywood Securities Inc., Cormark
Securities Inc., TD Securities Inc. and Eight Capital. The
Flow-Through Shares are subject to a four-month hold period, which
will expire on March 24, 2019.
The Company has agreed 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)) and anticipates using the gross
proceeds for expenses related to the Company's 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 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, 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 65.92% 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 expectations regarding Denison's joint venture ownership
interests and the continuity of its joint venture agreements, the
Company's exploration activities and plans and objectives and the
anticipated use of proceeds of the Offering.
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.