White Canyon Uranium Recommends Cash Takeover Offer by Denison Mines

White Canyon Uranium Ltd (TSXV:WU,ASX:WCU)  reports that it has reached an agreement with Denison Mines Corp (AMEX:DNN).

The press release is quoted as saying:

The Offer is subject to an Implementation Agreement entered into by White Canyon and Denison on 23 February 2011 and will be conditional upon the satisfaction of certain conditions, including the requirement that Denison acquires a relevant interest in at least 90% of White Canyon’s ordinary share capital on issue during, or at the end of, the Offer period. A full list of the conditions of the Offer is attached to this announcement as Appendix A.

Click here to access the entire news release.