News: Denison Mining to acquire Fission Uranium $DNN

Denison Mines Corp. and Fission Uranium Corp have announced the execution of a Binding Letter Agreement to combine their respective businesses. The Transaction creates a leading Canadian focused diversified uranium company Рcombining high quality assets and the management teams of two highly respected companies.

The market capitalization of Denison and Fission on a combined basis is anticipated to be approximately CAD$900 million. Based on the 30 day volume weighted average price of Denison’s shares on the TSX of CAD$0.99 as at July 3, 2015, the offer implies a price per Fission common share of CAD$1.25 and represents a premium of approximately 18% to the 30 day volume weighted average price of Fission’s shares on the TSX of CAD$1.06 as at July 3, 2015.

It will feature a common share exchange through which Fission common shareholders will receive 1.26 common shares of Denison for each common share of Fission held plus CAD$0.0001 per share in cash.

View the full release here.