Based on the 30 day volume weighted average price of Denison's shares on the TSX of CAD$0.99 as at July 3, 2015, the offer implies a price per Fission common share of CAD$1.25 and represents a premium of approximately 18% to the 30 day volume weighted average price of Fission's shares on the TSX of CAD$1.06 as at July 3, 2015.
The market capitalization of Denison and Fission on a combined basis is anticipated to be approximately CAD$900 million. Upon completion of the Transaction, the combined company, to be named "Denison Energy Corp.", will be approximately 50% owned by each of Denison's and Fission's existing shareholders on a fully-diluted in-the-money basis.
#Will dennison mining buy fission uranium plus#
Subject to the terms set out in the Binding Agreement, Fission common shareholders will receive 1.26 common shares of Denison for each common share of Fission held plus $0.0001 per share in cash. Headlining the asset portfolio of the combined company will be two world class uranium exploration and development projects: Fission's 100% owned Patterson Lake South Project, and Denison's 60% owned Wheeler River Project, both located in the prolific Athabasca Basin, in Northern Saskatchewan, Canada. The Transaction creates a leading Canadian focused diversified uranium company - combining high quality assets and the management teams of two highly respected companies. (TSX:FCU)(OTCQX:FCUUF)(FRANKFURT:2FU) (" Fission" ) are pleased to announce the execution of a Binding Letter Agreement (the " Binding Agreement") to combine their respective businesses (the " Transaction"). (TSX:DML)(NYSE MKT:DNN) (" Denison" ) and Fission Uranium Corp.
TORONTO, ONTARIO-(Marketwired - July 6, 2015) - Denison Mines Corp.
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