Tuesday, October 7, 2025

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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.

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