Exhibit 99.1
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Denison Mines
Corp.
1100 – 40 University
Ave
Toronto, ON M5J
1T1
www.denisonmines.com
@DenisonMinesCo
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PRESS
RELEASE
DENISON
ANNOUCES CAD$5 MILLION BOUGHT DEAL
PRIVATE
PLACEMENT OF FLOW-THROUGH SHARES
NOT FOR DISTRIBUTION
TO UNITED STATES NEWSWIRE
SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, ON – November 2, 2018. Denison
Mines Corp. ("Denison" or the "Company") (DML: TSX; DNN:
NYSE American) is pleased to announce that it has entered into an
agreement with an underwriter as a sole bookrunner and lead
underwriter, on behalf of a syndicate of underwriters (together,
the "Underwriters"), under which the Underwriters have agreed to
purchase, on a "bought deal" private placement basis, 4,950,495
flow-through common shares (the "Flow-Through Shares") at a price
of CAD$1.01 per share, for total gross proceeds of approximately
CAD$5,000,000 (the "Offering").
The Company has
granted the Underwriters an option to increase the gross proceeds
of the Offering by up to 10% (the "Underwriters' Option"),
exercisable in whole or in part at any time up to two business days
prior to the closing date. The Underwriters will seek to arrange
for substituted purchasers for the Flow-Through Shares in one or
more provinces of Canada.
The closing of
the Offering is expected to occur on or about November 23, 2018 and
is subject to the completion of formal documentation and receipt of
regulatory approvals, including the approval of the Toronto Stock
Exchange and the NYSE American. The Flow-Through Shares issued in
connection with the Offering will be subject to a statutory hold
period in accordance with applicable securities
legislation.
The Company
intends to use the gross proceeds from the sale of the Flow-Through
Shares for "Canadian exploration expenses" (within the meaning of
the Income Tax
Act (Canada)), related to the Company's Canadian
uranium mining exploration projects in Saskatchewan. The Company
has also agreed to renounce such Canadian exploration expenses with
an effective date of no later than December 31, 2018.
About Denison
Denison is a uranium exploration and development company with
interests focused in the Athabasca Basin region of northern
Saskatchewan, Canada. In addition to its 90.0% owned Wheeler River
project, which ranks as the largest undeveloped high-grade uranium
project in the infrastructure rich eastern portion of the Athabasca
Basin region, Denison's Athabasca Basin exploration portfolio
consists of numerous projects covering approximately 320,000
hectares. Denison's interests in the Athabasca Basin also include a
22.5% ownership interest in the McClean Lake joint venture
("MLJV"), which includes several uranium deposits and the McClean
Lake uranium mill, which is currently processing ore from the Cigar
Lake mine under a toll milling agreement, plus a 25.17% interest in
the Midwest and Midwest A deposits, and a 65.45% interest in the J
Zone deposit and Huskie discovery on the Waterbury Lake property.
Each of Midwest, Midwest A, J Zone and Huskie are located within 20
kilometres of the McClean Lake mill.
Denison is also engaged in mine decommissioning and environmental
services through its Denison Environmental Services division and is
the manager of Uranium Participation Corp., a publicly traded
company which invests in uranium oxide and uranium
hexafluoride.
For more information, please contact
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David
Cates
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(416) 979-1991
ext. 362
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President and
Chief Executive Officer
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Sophia
Shane
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(604)
689-7842
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Investor
Relations
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Follow Denison on
Twitter
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@DenisonMinesCo
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Cautionary Statement Regarding Forward-Looking
Statements
Certain information contained in this press release constitutes
"forward-looking information", within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and similar
Canadian legislation concerning the business, operations and
financial performance and condition of Denison. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes", or the negatives and/or variations of such words and
phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur", "be
achieved" or "has the potential to". In particular, this press
release contains forward-looking information pertaining to the
following: the Company's expectations regarding the proposed
Offering, including the completion and use of proceeds thereof; and
Denison's percentage interest in its properties and its plans and
agreements with its joint venture partners, as
applicable.
Forward looking statements are based on the opinions and estimates
of management as of the date such statements are made, and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, performance or achievements of
Denison to be materially different from those expressed or implied
by forward-looking statements. Denison believes that the
expectations reflected in this forward-looking information are
reasonable but no assurance can be given that these expectations
will prove to be accurate and may differ materially from those
anticipated in this forward looking information. For a discussion
in respect of risks and other factors that could influence
forward-looking events, please refer to the factors discussed in
Denison's Annual Information Form dated March 27,
2018 under the heading "Risk Factors". These factors are not,
and should not be construed as being exhaustive. Accordingly,
readers should not place undue reliance on forward-looking
statements.
The forward-looking information contained in this press release is
expressly qualified by this cautionary statement. Any
forward-looking information and the assumptions made with respect
thereto speaks only as of the date of this press release. Denison
does not undertake any obligation to publicly update or revise any
forward-looking information after the date of this press release to
conform such information to actual results or to changes in
Denison's expectations except as otherwise required by applicable
legislation.