Denison to Sell Shares to Raise Funds

26 May 2009 (Last Updated May 26th, 2009 18:30)

Canada-based Denison Mines has entered into an agreement with a syndicate of investment dealers to sell shares and raise C$82m. The syndicate, consisting of GMP Securities and Cormark Securities, will buy 40 million Denison shares at C$2.05 per common share. The syndicate also ha

Canada-based Denison Mines has entered into an agreement with a syndicate of investment dealers to sell shares and raise C$82m.

The syndicate, consisting of GMP Securities and Cormark Securities, will buy 40 million Denison shares at C$2.05 per common share.

The syndicate also has an option to buy six million common shares within the next 30 days, which would take the proceeds to about C$94.3m.

Denison has uranium mining assets in the US and Canada. It also has exploration properties in the US, Canada, Zambia and Mongolia.

The offering is expected to close on or about 22 June.

By staff writer