Denison Mines Corp 6-K, filed Jan 13, 2022
Denison Mines Corp. (DNN)
6-K
2022-01-13
For: 2022-01-13
View Original
Added on
April 07, 2026
About this 6-K
Denison Mines Corp filed this 6-K on January 13, 2022.
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: January 13, 2022
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: January
13, 2022
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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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PRESS
RELEASE
DENISON NEGOTIATES REPAYMENT OF DEBT OWING FROM
URANIUM INDUSTRY A.S. AND RECEIVES INITIAL US$2 MILLION
PAYMENT
Toronto, ON – Jan 13,
2022. Denison Mines Corp. (“Denison” or the
“Company”) (TSX: DML, NYSE American: DNN) is pleased to
announce that it has executed a Repayment Schedule Agreement (the
“Agreement”) with Uranium Industry a.s.
(“UI”), pursuant to which the parties have negotiated
the repayment of the debt owing from UI to Denison, and that
Denison has received an initial US$2 million debt repayment
instalment in accordance with the terms of the
Agreement.
In
July 2020, Denison announced the receipt of a final award in favour
of Denison from the London Court of International Arbitration
(“LCIA”) with respect to the arbitration proceedings
between the Company and UI related to the 2015 sale by Denison to
UI of its mining assets and operations located in Mongolia
(“Arbitration Award”). The arbitration panel declared
that UI violated its obligations to the Company under the related
agreements and ordered UI to pay the Company USD$10 million plus
interest at a rate of 5% per annum from November 16, 2016, plus
certain legal and arbitration costs.
Under
the terms of the Agreement, UI has agreed to make scheduled
payments on account of the Arbitration Award, plus additional
interest and fees, through a series of quarterly installments and
annual milestone payments, until December 31, 2025. The total
amount due to Denison under the Agreement, including the initial
US$2 million already received, is approximately US$16 million. The
Agreement includes customary covenants and conditions in favour of
Denison, including certain restrictions on UI’s ability to
take on additional debt, in consideration for Denison’s
deferral of enforcement of the Arbitration Award while UI is in
compliance with its obligations under the Agreement.
This press release constitutes a "designated news release" for the
purposes of the Company's prospectus supplement dated September 28,
2021 to its short form base shelf prospectus dated September 16,
2021.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. The Company has an effective 95% interest in
its flagship 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, which includes several
uranium deposits and the McClean Lake uranium mill that is
contracted to process the ore from the Cigar Lake mine under a toll
milling agreement, plus a 25.17% interest in the Midwest Main 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 Main, Midwest A, THT and
Huskie are located within 20 kilometres of the McClean Lake
mill.
Through its 50% ownership of JCU (Canada) Exploration Company,
Limited (“JCU”), Denison also holds interests in
various uranium project joint ventures in Canada, including the
Millennium project (JCU 30.099%), the Kiggavik project (JCU
33.8123%) and Christie Lake (JCU 34.4508%).
Denison is also 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 third-party post-closure mine
care and maintenance services.
For more information, please contact
David
Cates
(416) 979-1991 ext 362
President and
Chief Executive Officer
Mac
McDonald
(416)
979-1991 ext.242
Exec. Vice
President & Chief Financial Officer
Follow Denison on
Twitter
@DenisonMinesCo
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 Agreement and the expectations of scheduled
repayment of the Arbitration Award pursuant thereto; 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, the execution and initial repayment under the Agreement
may not lead to recovery of further repayments. Denison believes
that the expectations reflected in its forward-looking information
are reasonable but 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 26, 2021 or subsequent quarterly financial reports 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.