Denison Mines Corp 6-K, filed Mar 3, 2021
Denison Mines Corp. (DNN)
6-K
2021-03-03
For: 2021-03-03
View Original
Added on
April 07, 2026
About this 6-K
Denison Mines Corp filed this 6-K on March 3, 2021.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Date: March 3, 2021
Commission File Number: 001-33414
Denison Mines Corp.
(Name of
registrant)
1100-40 University Avenue
Toronto Ontario
M5J 1T1 Canada
(Address of
principal executive offices)
Indicate by check mark whether the registrant files
or will file annual reports under cover Form 20-F or Form
40-F.
Form
20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule
101(b)(7): ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly
authorized.
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DENISON MINES
CORP.
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/s/ Amanda Willett
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Date: March
3, 2021
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Amanda
Willett
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Vice
President Legal and Corporate Secretary
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FORM 6-K
EXHIBIT INDEX
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Exhibit Number
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Description
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99.1
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Exhibit 99.1
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Denison Mines
Corp.
1100 – 40
University Ave
Toronto, ON M5J
1T1
www.denisonmines.com
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE,
PUBLICATION, DISTRIBUTION OR DISSEMINATION
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES
PRESS
RELEASE
DENISON
COMPLETES BOUGHT DEAL PRIVATE PLACEMENT OF
FLOW-THROUGH SHARES FOR
PROCEEDS OF $8 MILLION
Toronto, ON – March 3, 2021
Denison Mines Corp. (“Denison” or the
“Company”) (DML: TSX, DNN: NYSE American) is pleased to
announce that it has closed its bought deal private placement of
common shares that qualify as “flow-through shares” for
purposes of the Income Tax
Act (Canada) (the "Flow-Through Shares"), previously
announced on February 11, 2021.
Denison issued
5,926,000 Flow-Through Shares at a price of $1.35 per Flow-Through
Share, for total gross proceeds of approximately $8 million (the
“Offering”). Cantor Fitzgerald Canada Corporation and
Haywood Securities Inc. acted as co-lead underwriters and joint
bookrunners for the Offering.
David Cates,
President and CEO of Denison, commented, “Our 2020 exploration
program at Wheeler River resulted in the discovery of new
high-grade uranium mineralization along the K-West conductive
trend, and returned the best mineralized drill hole completed to
date at Zone C of the Phoenix deposit. Both results point to the
value of continued exploration in proximity to Phoenix – with
the potential for the discovery and delineation of an ISR amenable
uranium deposit that could become a satellite operation for the
Company’s planned ISR processing plant at Wheeler
River.”
The Company has
agreed to use the gross proceeds from the sale of the Flow-Through
Shares for “Canadian exploration expenses” (within the
meaning of the Income Tax
Act (Canada)), related to the Company’s Canadian
uranium mining exploration projects in Saskatchewan. The Company
has also agreed to renounce such Canadian exploration expenses with
an effective date of no later than December 31, 2021.
The Flow-Through
Shares issued in connection with the Offering are subject to a
statutory hold period in accordance with applicable Canadian
securities legislation.
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 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 or the Base Shelf
Prospectus.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States or to or for the account
or benefit of a U.S. person (as defined in Regulation S under the
U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws or an exemption from such
registration is available.
About Denison
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, which is the largest
undeveloped uranium project in the infrastructure rich eastern
portion of the Athabasca Basin region of northern Saskatchewan.
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 and
Midwest A deposits, and a 66.90% interest in the Tthe Heldeth
Túé (“THT,” formerly J Zone) and Huskie
deposits on the Waterbury Lake property. Each of Midwest, Midwest
A, THT and Huskie are located within 20 kilometres of the McClean
Lake mill.
Denison is engaged in mine decommissioning and environmental
services through its Closed Mines group (formerly Denison
Environmental Services), which manages Denison's Elliot Lake
reclamation projects and provides post-closure mine care and
maintenance services to a variety of industry and government
clients.
Denison is also the manager of Uranium Participation Corporation, a
publicly traded company listed on the TSX under the symbol 'U',
which invests in uranium oxide in concentrates and uranium
hexafluoride.
For more information, please contact
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David Cates
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(416) 979-1991 ext.
362
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President and Chief Executive
Officer
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Sophia Shane
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(604) 689-7842
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Investor
Relations
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Follow Denison on
Twitter
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@DenisonMinesCo
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Cautionary Statement Regarding Forward-Looking
Statements
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, the potential for the discovery and
delineation of an ISR amenable uranium deposit at Wheeler River
that could become a satellite operation for the Company’s
planned ISR processing plant,
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 as herein described or at all or
pursue its exploration, evaluation and environmental assessment
activities or the intended purposes of the proceeds of the
Offering, which could have significant impacts on Denison. 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.