TORONTO, Nov. 13, 2020 /PRNewswire/ - 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"). View PDF version
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 F-10 (File No.
333-238108) as amended and declared effective on June 3, 2020 (the "U.S. Registration Statement")
filed with the United States Securities and Exchange Commission
(collectively, the "ATM Prospectus"). Copies of the Prospectus
Supplement and Base Prospectus may be obtained for free from SEDAR
at www.sedar.com, and copies of the U.S. Registration Statement may
be obtained for free from EDGAR on the SEC website at www.sec.gov.
Alternatively, any of the following Agents participating in the ATM
will arrange to send you these documents if you make a request by
contacting:
In Canada:
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In the United
States:
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Cantor Fitzgerald
Canada Corporation
Attention: Equity
Capital Markets
181 University
Avenue, Suite 1500,
Toronto, ON, M5H
3M7
Email:
ecmcanada@cantor.com
|
Cantor Fitzgerald
& Co.
Attention: Equity
Capital Markets
499 Park
Avenue, 6th Floor,
New York, New York,
10022
Email:
prospectus@cantor.com
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Scotia Capital
Inc
Attention: Equity
Capital Markets,
Scotia Plaza, 62nd
Floor, 40 King Street West,
Toronto, ON M5H
3Y2,
Email:
equityprospectus@scotiabank.com
Telephone:
416-863-7704
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Scotia Capital (USA)
Inc.
Attention: Equity
Capital Markets
250 Vesey Street,
24th Floor
New York, New York,
10281
Email:
equityprospectus@scotiabank.com
Telephone:
212-225-6853
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The common shares that may be issued by the Company under the
ATM have been conditionally approved for listing on the TSX and
have been approved for listing on the NYSE American.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of
these securities in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca
Basin region of northern Saskatchewan,
Canada. Denison owns a 90% interest in its flagship project,
Wheeler River, which is the largest undeveloped uranium project in
the infrastructure rich eastern portion of the Athabasca Basin region, in northern
Saskatchewan. In addition,
Denison's Athabasca Basin
exploration portfolio consists of numerous projects covering over
250,000 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 66.71% interest in the J Zone and Huskie
deposits 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 engaged in mine decommissioning and environmental
services through its Closed Mines group (formerly Denison
Environmental Services), which manages Denison's Elliot Lake reclamation projects and provides
post-closure mine care and maintenance services to a variety of
industry and government clients.
Denison is also 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 news release
constitutes 'forward-looking information', within the meaning of
the applicable United States and
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 news release contains forward-looking
information pertaining to the following: the ATM and agreements
with the Agents with respect thereto; the use of proceeds of any
offerings that may be completed pursuant to the ATM; and
expectations regarding its joint venture ownership interests and
the continuity of its agreements with its partners.
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.
For example, Denison may be unable to resume or, once resumed,
decide or otherwise be required to discontinue the evaluation or
other testing, evaluation and development work at Wheeler River if
it is unable to maintain or otherwise secure the necessary
resources (such as testing facilities, capital funding, regulatory
approvals, etc.) or operations are otherwise affected by COVID-19
and its potentially far-reaching impacts. 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 results 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 13, 2020 or subsequent
quarterly financial reports 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 news 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 news release. Denison does not undertake any obligation to
publicly update or revise any forward-looking information after the
date of this news release to conform such information to actual
results or to changes in Denison's expectations except as otherwise
required by applicable legislation.
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SOURCE Denison Mines Corp.