Canadian miner secures $31M for uranium projects

Photo: Dennison Mines

Canadian uranium explorer Denison Mines has signed two agreements to raise a total of US$31 million to develop its mining activities.


Denison says its interests are focused on the Athabasca Basin region of northern Saskatchewan, Canada, in which it holds a 90 percent stake. The miner’s flagship project is the Wheeler River uranium project which is the largest undeveloped uranium project in northern Saskatchewan.


The company has entered into agreements with “Cantor Fitzgerald Can-ada Corporation (CFCC) and Haywood Securities Inc. (Haywood), as co-lead underwriters and joint book-runners, in each case on behalf of them-selves and a syndicate of underwriters,” Denison Mines said in a state-ment. “The Unit Offering is expected to close on or about February 19, 2021.”


Denison's interests in Saskatchewan also comprise a 22.5% ownership interest in the McClean Lake joint venture which consists of a number of uranium deposits and the McClean Lake uranium mill, among others.