Denison Mines enters into equity financing agreement Denison Mines said it has entered into an agreement with a syndicate of investment dealers which have agreed to buy, on a bought deal basis, 40 million common shares of Denison at a purchase price of C$2.05 per share.
Posted: Tuesday , 26 May 2009
TORONTO (Reuters) -
Denison Mines (DML.TO: Quote) said on Tuesday it has entered into an agreement with a syndicate of investment dealers which have agreed to buy, on a bought deal basis, 40 million common shares of Denison at a purchase price of C$2.05 per share.
The deal will raise gross proceeds of C$82 million.
The Canadian uranium producer said the deal is being co-led by GMP Securities and Cormark Securities. It also includes support from Canaccord Capital Corp, Scotia Capital, CIBC World Markets and Raymond James Ltd.
In a bought deal an underwriter or syndicate buys shares from an issuer before selling them on to the public.
Shares of Denison closed Monday at C$2.39 on the Toronto Stock Exchange. ($1= $1.12 Canadian) (Reporting by Euan Rocha, editing by Dave Zimmerman)
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WCU Price at posting:
36.0¢ Sentiment: Buy Disclosure: Not Held
