GoviEx Announces that the Zambian Competition and Consumer Protection Commission has Provided Approval to Complete Dension Transaction

- May 30th, 2016

GoviEx Uranium (CSE:GXU) has announced that the Zambian Competition and Consumer Protection Commission has reviewed and provided its approval to complete the transaction that will see GoviEx acquire Denison’s wholly owned subsidiary, Rockgate Capital Corp., which holds all of Denison’s Africa-based uranium interests. As quoted in the press release: Having received approval from the Zambian …

GoviEx Uranium (CSE:GXU) has announced that the Zambian Competition and Consumer Protection Commission has reviewed and provided its approval to complete the transaction that will see GoviEx acquire Denison’s wholly owned subsidiary, Rockgate Capital Corp., which holds all of Denison’s Africa-based uranium interests.
As quoted in the press release:

Having received approval from the Zambian Competition and Consumer Protection Commission, GoviEx now expects the closing of the Transaction to occur on or about June 10, 2016, subject to the receipt of all other required consents and approvals, as well as the satisfaction of other conditions customary for a transaction of this nature.
About the Transaction
The Transaction is expected to create a leading Africa-focused uranium development company. Following successful completion of the Transaction, GoviEx will control one of the largest uranium resource bases among publicly listed development companies, with combined Measured & Indicated resources of 124.29 million pounds (Mlbs) U3O8, plus Inferred resources of 73.11 Mlbs U3O8.
The asset portfolio of the combined company will include two permitted uranium development projects – including GoviEx’s Madaouela project in Niger and Denison’s Mutanga project in Zambia. It also will include Denison’s Falea project, an advanced exploration-stage project in Mali, and the exploration-stage Dome project in Namibia.
Under the terms of the Transaction, GoviEx will acquire Denison’s wholly owned subsidiary, Rockgate Capital Corp., which holds all of Denison’s Africa-based uranium interests in exchange for approximately 56.1 million shares of GoviEx plus approximately 22.4 million common share purchase warrants of GoviEx. Upon completion of the Transaction, Denison will hold 25% of GoviEx shares outstanding and 28% of GoviEx shares on a fully-diluted basis.

Click here to read the full press release.

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