Denison Mines Corp. Files Qualifying Prospectus in Canada

TORONTO, ONTARIO -- (Marketwire) -- 12/20/10 -- Denison Mines Corp. (TSX: DML)(NYSE Amex: DNN) ('Denison' or the 'Company') is pleased to announce that it has filed and obtained a receipt for its final short form prospectus qualifying for distribution in Ontario, Alberta, British Columbia and Nova Scotia: (i) 25 million common shares (the 'Common Shares') of the Company issuable upon the exercise or deemed exercise of 25 million special warrants (the 'Special Warrants'); and (ii) 1.4 million Common Shares issuable upon the exercise or deemed exercise of 1.4 million flow-through special warrants (the 'FT Special Warrants') of the Company which were issued on December 9, 2010 in connection with a previously announced private placement financing through a syndicate of investment dealers.

Each Special Warrant and FT Special Warrant entitles the holder thereof to receive one Common Share for no additional consideration. All unexercised Special Warrants and FT Special Warrants will be deemed to be exercised on Thursday, December 23, 2010, being the third business day after the receipt was issued for the final prospectus, resulting in the issue of 26.4 million Common Shares to the holders of the Special Warrants and FT Special Warrants.

In accordance with an existing agreement between Denison and its largest shareholder, Korea Electric Power Corporation ('KEPCO'), KEPCO was entitled, but was not required, to subscribe for additional Common Shares in an amount that would allow it to maintain its existing shareholding level in Denison after the Offering. KEPCO has notified Denison that it will not be subscribing for additional Common Shares under this right.

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By author: admin - Dec 21, 2010 / Categories: News