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Denison Mines Corp Closes Arrangement With Fission Energy Corp

Friday, 26 Apr 2013 08:30am EDT 

Denison Mines Corp announced the closing of the previously announced transaction with Fission Energy Corp. (Fission) whereby Denison acquired a portfolio of uranium exploration projects held by Fission, 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 interest in two joint ventures in Namibia. As a result of the Arrangement, Denison acquired all of the outstanding common shares of Fission (the Fission Shares) with Fission spinning out certain assets into a newly-incorporated exploration company, Fission Uranium Corp. (Fission Uranium). Under the Arrangement, each Fission Share was exchanged for 0.355 of a common share of Denison, a nominal cash payment of $0.0001 and one common share of Fission Uranium. Unexercised Fission options will automatically be exchanged for options to acquire common shares of Denison and Fission Uranium. The holders of Fission warrants are entitled to receive, upon exercise of their warrants, the number of common shares of Denison and Fission Uranium which the warrantholders would have been entitled to receive as a result of the Arrangement, if immediately prior to the effective date the warrantholders had exercised their warrants. Fission Shares will cease trading on the TSX Venture Exchange upon close of business on April 29, 2013 and are expected to be de-listed shortly after that. 

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