Consolidation of strategic uranium assets: An unrivalled portfolio of strategic uranium asset interests in the Athabasca Basin, headlined by Fission’s 100% owned PLS Project and Denison’s 60% owned Wheeler River Project and including Denison’s interests in the Midwest, McClean Lake, Waterbury Lake, Mann Lake, and Wolly projects, as well as Denison’s strategic 22.5% ownership interest in the McClean Lake Mill.

Denison has a strong, diversified portfolio and, with the Triple R deposit, Fission is bringing the Athabasca Basin’s largest undeveloped high-grade resource as well as a successful and award-winning technical and management team.” We are confident that our shareholders will benefit from the value creation opportunities that will be realised through an expanded and more diversified uranium company.”ĭev Randhawa, Chairman & CEO of Fission, stated: “This merger will create the uranium industry’s leading exploration and development company at a time when the sector is poised for growth. Ron Hochstein, Executive Chairman of Denison, commented: “The continued exploration success at our Phoenix deposit and Gryphon discovery, in combination with the discovery and exploration success of the world class Triple R deposit puts the combined company in an incredibly strong strategic position, with the most significant development portfolio in the world. The market capitalization of Denison and Fission on a combined basis is anticipated to be some C$900 million.

The combined company, to be named ‘Denison Energy Corp’, will be approximately 50% owned by each of Denison’s and Fission’s existing shareholders on a fully-diluted in-the-money basis. Headlining the asset portfolio of the combined company will be two world class uranium exploration and development projects: Fission’s 100% owned Patterson Lake South Project, and Denison’s 60% owned Wheeler River Project, both located in the prolific Athabasca Basin, in Northern Saskatchewan, Canada. The Transaction creates a leading Canadian focused diversified uranium company – combining high quality assets and the management teams of two highly respected companies. Denison Mines and Fission Uranium have executed a Binding Letter Agreement to combine their respective businesses.

Denison mines fission uranium