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Denison increases bought deal to $17.4m

9th October 2020

By: Creamer Media Reporter

     

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Uranium project developer Denison Mines has increased the size of its bought deal offering to 47-million shares, for aggregate proceeds of $17.4-million.

The company previously planned to raise $10-million through a 27.03-million-share offering at $0.37 a share.

The underwriters and joint book runners are Cantor Fitzgerald Canada and Haywood Securities.

Denison granted the underwriters an over-allotment option exercisable, in whole or in part, to purchase up to an additional 7.05-million offered shares at the issue price for potential additional gross proceeds of $2.6-million.

Proceeds of the offering would fund the evaluation and environmental assessment activities on Denison's Wheeler River project, as well as for general working capital purposes.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

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