Dension Completes Bought Deal Offering of Flow-Through Common Shares

Dension Mines (TSX:DML) has announced that it has completed its previously announced private placement offering of commons hares issued on a flow-through basis pursuant to the Income Tax Act.
As quoted in the press release:

On closing of the Offering today, the Company issued 15,127,805 Flow-Through Shares, through a syndicate of underwriters co-led by Dundee Securities Ltd. and TD Securities Inc. and including Raymond James Ltd. and Cantor Fitzgerald Canada Corporation (together, the “Underwriters”), at a price of CAD$0.82 per Flow-Through Share, for aggregate gross proceeds to Denison of CAD$12,404,800. The proceeds include CAD$2,400,800 (from the issuance of 2,927,805 Flow-Through Shares) issued in connection with the exercise of the Underwriters’ option. The number of Flow-Through Shares issuable pursuant to the Underwriters’ option was increased from 2,440,000 shares to 2,927,805 shares to accommodate additional demand for the Offering. The Flow-Through Shares are subject to a four-month hold period which will expire on September 21, 2016.
The Company has agreed to use the gross proceeds of the Offering for “Canadian exploration expenses” (within the meaning of the Income Tax Act (Canada)) and anticipates using the gross proceeds for expenses related to the Company’s Canadian uranium mining exploration projects in Saskatchewan – including the Company’s flagship Wheeler River project, located in the infrastructure rich eastern portion of the Athabasca Basin. The Company has agreed to renounce such Canadian exploration expenses with an effective date of no later than December 31, 2016.

Click here to read the full press release.