Friday, May 30, 2025

Latest

Denison Mines Offers To Acquire JCU Canada For $40.5 Million

Denison Mines Corp. (TSX: DML) announced today that it has sent a binding offer to  Overseas Uranium Resources Development Co., Ltd. to acquire its wholly-owned subsidiary, JCU (Canada) Exploration Company, Limited. Denison’s offer seeks 100% ownership of JCU.

As part of the offer, Denison’s consideration for the acquisition includes cash payments of up to $40.5 million and absorbing JCU’s liabilities owed to Japan Atomic Energy Agency. The cash payment consists of a $10.0 million refundable deposit upon signing of the agreement, a $28.0 million payment upon closing, and a $2.5 million payment within 45 days of the closing date. The latter is subject to adjustment based on JCU’s working capital on the closing date.

Denison set no due diligence on JCU’s assets and no conditions in obtaining the necessary funding for the acquisition since the company reports it has sufficient cash to fulfill the set purchase price. The transaction however is conditional on the termination of an existing definitive purchase agreement with UEX Corporation (TSX: UEX) between UEX and Overseas Uranium.

Further, Denison commits to the parent company that JCU will be maintained as a corporate subsidiary following the acquisition.

Currently, JCU holds a portfolio of joint venture interests in Canada, including a 10% interest in Denison’s 90%-owned Wheeler River uranium project.

Denison Mines Corp. last traded at $1.41 on the TSX.


Information for this briefing was found via Sedar 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.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Defiance ETFs Launches New 2x Leveraged Uranium ETF

Defiance ETFs is introducing a new leveraged commodity ETF called the Defiance Daily Target 2X...

Friday, May 24, 2024, 08:10:06 AM

Sweden Wants To Lift Ban On Mining Uranium

The Swedish government has initiated an investigation into the potential lifting of its ban on...

Tuesday, February 27, 2024, 10:32:00 AM

China’s Nuclear Expansion Fuels Surge in Kazakh Uranium Imports

China has emerged as the leading purchaser of Kazakhstan’s natural uranium exports during the first...

Monday, September 23, 2024, 11:05:58 AM

Scotiabank Forecasts Uranium Supply Deficit to Continue Through 2030

Scotiabank (TSX: BNS) projects the uranium market will remain in a structural deficit until 2030,...

Wednesday, March 26, 2025, 12:07:00 PM

US-ranium: The Exodus From Russian Uranium

The Czech Republic’s electricity utility struck a deal with US energy behemoth Westinghouse Electric Co....

Thursday, March 30, 2023, 12:57:00 PM