Denison Mines Corp. (DML.TO: Quote) announced the closing of its previously announced transaction whereby Energy Fuels Inc. will acquire all of the shares of the subsidiaries holding Denison's U.S. mining assets and operations, as well as all of the inter-company debt between Denison and the US Mining Division.
The company stated that the completion of the transaction is pursuant to a plan of arrangement in accordance with the Business Corporations Act which has been approved by the Ontario Superior Court of Justice. All conditions of closing have now been satisfied by both parties.
Denison said that after completing the Arrangement, it will continue as a uranium exploration and development company with interests in exploration and development projects in Saskatchewan, Zambia and Mongolia.
Also, Denison will maintain its 22.5% ownership interest in the McClean Lake uranium mill, located in northern Saskatchewan, which is one of the world's largest uranium processing facilities.
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by RTT Staff Writer
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