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Denison Mines Corp and Fission Energy Corp. Execute Definitive Arrangement Agreement


Thursday, 7 Mar 2013 06:52pm EST 

Denison Mines Corp announced that Denison and Fission Energy Corp. (Fission) have entered into a definitive arrangement agreement (the Agreement) which replaces the binding letter agreement previously announced, pursuant to which Denison has agreed to acquire all of the issued and outstanding shares of Fission with Fission spinning out certain assets into a newly-formed publicly traded company, Fission Uranium Corp. ("Spinco"), by way of a court-approved plan of Arrangement (the Arrangement). Pursuant to the Agreement, Denison will acquire a portfolio of uranium exploration projects including Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, Quebec, and Nunavut, plus its interests in two joint ventures in Namibia. The Spinco assets will consist of the remaining assets of Fission including the 50% interest in the Patterson Lake South property located in the western Athabasca Basin. Pursuant to the Agreement, the consideration to be received by the shareholders of Fission consists of 0.355 of a common share of Denison (each, a "Denison Share"), a nominal cash payment of $0.0001 and 1 (one) common share of Spinco (a "Spinco Share") for each common share of Fission held. Upon completion of the Arrangement, the holders of Fission options will receive options to acquire Denison Shares and options to acquire Spinco Shares. 

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1.13
-0.01 -0.88%
21 Oct 2014