home Equities T.DML Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

T.DML Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

Denison Mines Corp. (“Denison” or the “Company”) (DML: TSX; DNN: NYSE American) is pleased to announce that it has completed its previously announced private placement offering of common shares issued on a “flow-through” basis pursuant to the Income Tax Act (Canada) (“Flow-Through Shares”).

The communities are all within proximity (Map 1) to the 100% owned, Rook I Project in the Athabasca Basin, Saskatchewan, which is currently in the process of Feasibility and Environmental Assessment under CEAA 2012.

  • Clearwater River Dene Nation,
  • Me?tis Nation Saskatchewan (MN-S) including as on behalf of the Locals of MN-S Region II,
  • Birch Narrows Dene Nation,
  • Buffalo River Dene Nation.

The Study Agreements enable NexGen to formally engage with the communities to identify potential impacts to Aboriginal and treaty rights and socio-economic interests and identify potential avoidance and accommodation measures in relation to the Project whilst acknowledging the duty to consult remains with the Crown.

NexGen and the communities have committed to establish respective joint working groups to support the inclusion of each community’s traditional knowledge throughout the Environmental Assessment process and incorporating Traditional Land Use and Dietary studies that are designed, scoped and completed by each of the respective communities.

NexGen will provide funding for all aspects of the above including the joint working groups to lead, review and independently confirm all studies for inclusion into the Environmental Assessment.

Further, the Study Agreements commit the Parties to negotiate Impact Benefit Agreements in good faith and as early in the regulatory process as possible to allow the Parties greater certainty, including certainty that current and future potential concerns between the Parties can be addressed through the processes set out in the Impact Benefit Agreement.

These Study Agreements also formally reflect the continued commitment of the community initiatives and programs NexGen have conducted since 2013 resulting in substantial local employment at the Project site and numerous community programs including but not limited to those listed below, such as:

  • Full-time employment opportunities for citizens of the communities,
  • Summer student employment programs for high-school and post-secondary students,
  • Training opportunities including on-the-job training such as the driller training program,
  • Support for post-secondary education through scholarships,
  • Procurement opportunities for goods and services, by tendering opportunities with the communities,
  • Support of youth through education and recreation, school water fountains, bursaries, breakfast club, financial support for management of the recreational activities, participation in cultural days, sponsorship of hockey and volleyball teams, recreational programming and warm winter school apparel.

Leigh Curyer, Chief Executive Officer, commented: “The signing of the Study Agreements reflects the long-standing respect, trust and confidence between NexGen and our valued local communities within the project area where we are advancing the Rook I Project. The agreements provide very clear processes for important cultural components to be identified and incorporated optimally into the Environmental Assessment which advances the foundation of successfully developing this exciting project collaboratively.

I would like to take the opportunity to personally acknowledge the outstanding commitment and professionalism of the respective community leaders and advisors in their stewardship of this process to date. Since drilling commenced in 2013, the Company has appreciated the collaborative approach, which is setting new standards globally for genuine and effective consultation and engagement. NexGen is looking forward to the next stage of negotiating and concluding the Impact Benefit Agreements which will formally reflect community initiatives and collaboration for the success of all.”

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production.

NexGen owns a 100% interest in Rook I, location of the Arrow Deposit discovered in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017, including an expansive portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada. NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Source: Denison Mines Corp.