EX-99.1
2
denison_-closingpressrele.htm
PRESS RELEASE DATED OCTOBER 14, 2020
denison_-closingpressrele
Exhibit 99.1
Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
PRESS
RELEASE
DENISON
COMPLETES US$19.0 MILLION OFFERING
Toronto, ON – October 14, 2020
Denison Mines Corp. (“Denison” or the
“Company”) (DML: TSX, DNN: NYSE American) is pleased to
announce that today it has closed its previously announced public
offering (the “Offering”) of common shares of the
Company (the “Common Shares”).
The
Company issued 51,347,321 Common Shares, at a price of US$0.37 per
Common Share, for total gross proceeds of approximately US$19.0
million, which includes 4,347,321 Common Shares with the exercise,
in part, of the over-allotment option.
The
Offering was completed through a syndicate of underwriters co-led
by Cantor Fitzgerald Canada Corporation and Haywood Securities
Inc., as joint bookrunners, and including Canaccord Genuity Corp.,
Scotia Capital Inc. and TD Securities Inc. (collectively the
“Underwriters”) pursuant to an underwriting agreement
between the Company and the Underwriters dated October 8,
2020.
Proceeds of the
Offering are anticipated to be used to fund evaluation and
environmental assessment activities on Denison's Wheeler River
project, as well as for general working capital
purposes.
The Common Shares
were qualified for issuance pursuant to a prospectus supplement
(the “Prospectus Supplement”) to the Company's existing
Canadian short form base shelf prospectus (the "Base Shelf
Prospectus") and U.S. registration statement on Form F-10, as
amended (File No. 333-238108) (the "Registration Statement"), each
dated June 2, 2020. The Registration Statement was declared
effective by the United States Securities and Exchange Commission
(the "SEC") on June 3, 2020. The Prospectus Supplement has been
filed with the securities commissions in each of the provinces and
territories of Canada, except Quebec, and with the SEC. The
Canadian Prospectus Supplement (together with the related Canadian
Base Shelf Prospectus) is available on the SEDAR website maintained
by the Canadian Securities Administrators at www.sedar.com. The U.S.
Prospectus Supplement (together with the related U.S. Base Shelf
Prospectus) is available on the SEC's website at www.sec.gov.
Alternatively, the Prospectus Supplement and related Base Shelf
Prospectus may be obtained upon request by contacting the Company
or Cantor Fitzgerald Canada Corporation in Canada, 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 or by email
at prospectus@cantor.com or
Haywood Securities Inc., attention: Equity Capital Markets, 200
Burrard Street, Suite 700, Vancouver, BC, V6C 3L6, email:
ecm@haywood.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
The securities being offered have not been approved or disapproved
by any regulatory authority, nor has any such authority passed upon
by the accuracy or adequacy of the Prospectus Supplement, the Base
Shelf Prospectus or the Registration Statement.
About Denison
Denison Mines
Corp. was formed under the laws of Ontario and is a reporting
issuer in all Canadian provinces and territories. Denison’s
common shares are listed on the Toronto Stock Exchange (the
‘TSX’) under the symbol ‘DML’ and on the
NYSE American exchange under the symbol
‘DNN’.
Denison is a
uranium exploration and development company with interests focused
in the Athabasca Basin region of northern Saskatchewan, Canada. The
Company’s flagship project is the 90% owned Wheeler River
Uranium Project. Denison's interests in Saskatchewan 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 deposits and a 66.71% interest in
the J Zone and Huskie deposits on the Waterbury Lake property. The
Midwest, J Zone and Huskie deposits are located within 20
kilometers of the McClean Lake mill. In addition, Denison has an
extensive portfolio of exploration projects in the Athabasca Basin
region.
Denison is also
the manager of Uranium Participation Corporation
(‘UPC’), a publicly traded company listed on the TSX
under the symbol ‘U’, which invests in uranium oxide in
concentrates (‘U3O8’) and
uranium hexafluoride (‘UF6’).
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 use of
proceeds from sales from the Offering, and Denison’s
expectations regarding its joint venture ownership interests and
the continuity of its agreements with third parties.
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, if market
conditions remain volatile and/or COVID-19 mitigation measures
result in more social and economic disruptions, Denison may not use
the proceeds of the Offering on the terms herein described. In
addition, the currently anticipated evaluation and environmental
assessment activities may not be maintained after further testing
or Denison may decide or otherwise be required to alter or
discontinue testing, evaluation and development work, if it is
unable to maintain or otherwise secure the necessary approvals or
resources (such as testing facilities, capital funding, etc.).
Denison believes that the expectations reflected in this
forward-looking information are reasonable and 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 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.