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News Breaks
January 16, 2013
08:26 EDTFSSIF, DNNDenison Mines to acquire Fission Energy, spin out Patterson Lake
Denison Mines (DNN) announced the signing of a Binding Letter of Intent pursuant to which Denison will acquire a portfolio of uranium exploration projects from Fission Energy Corp. (FSSIF) including Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, its interests in two joint ventures in Namibia plus its assets in Quebec and Nunavut. Under the terms of the Binding LOI, Denison has agreed to offer shareholders of Fission 0.355 shares of Denison for each share of Fission held, conditional upon, among other things, certain assets of Fission being spun out to a new company to be held pro rata by current Fission shareholders. NewCo assets will include, among others, a 50% interest in the Patterson Lake South property located in the western Athabasca Basin. The Transaction values the Assets at approximately $70M based on the closing price of Denison as of January 15. Upon completion of the Transaction, shareholders of Fission will own approximately 11% of Denison.
News For DNN;FSSIF From The Last 14 Days
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December 1, 2015
08:35 EDTDNNDenison Mines receives $1.25M in initial payments from Mongolian interests sale
Denison Mines announced the receipt of $1.25M in initial payments from Uranium Industry a.s., of the Czech Republic, and the closing of the sale of its interest in the Gurvan Saihan joint venture, or GSJV, pursuant to an amended and restated share purchase agreement entered into on November 25. Under the terms of the Agreement, Denison received $1.25M on or prior to Closing, and has rights to receive additional proceeds from the sale of up to $12M, for total consideration of $13.25M. The Agreement replaces the share purchase agreement entered into in July, which did not close as anticipated. The Previous Agreement contemplated a less sizeable cash payment on closing and a deferred payment of $19.75M, which was to be made only in the event that all the mining licences for each of the Hairhan, Haraat, Gurvan Saihan and Ulzit projects were granted to the GSJV on or before November 30.

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