Denison Mines (TSX: DML) is evidently looking to take advantage of the increased volatility in uranium-related names as of late. The firm last night announced that it will be conducting an at-the-market offering lead by Cantor Fitzgerald and Scotia Capital.
Pegged at a total value of US$50.0 million, the offering will see the firm sell its share directly on the open market through both the NYSE American and the Toronto Stock Exchange. Due to the nature of the offering, there is no set amount of shares expected to be sold through the facility.
Proceeds from the offering are slated to be used for property evaluation, construction-related items, and engineering activities, along with general corporate purposes.
The offering is currently expected to run through to the earlier of October 16, 2023, or when the offering is fulfilled.
Denison Mines last traded at $1.77 on the TSX.
Information for this briefing was found via Denison Mines and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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