Denison Mines Corp. announced its participation in Foremost Clean Energy Ltd.'s C$10.5 million private placement, which closed on November 14, 2024. This offering provides Foremost with significant funding to explore uranium properties under an option agreement with Denison.
Denison acquired 607,600 units, comprising 607,600 Foremost common shares and 607,600 common share purchase warrants, for an aggregate subscription price of $1,822,800. This investment increased Denison's ownership to 19.13% of Foremost's issued and outstanding common shares and 13.09% of its warrants.
The increased stake in Foremost Clean Energy amplifies Denison's exposure to potential future discoveries on the 10 non-core uranium exploration properties optioned to Foremost. This strategic move allows Denison to benefit from exploration efforts on these properties while focusing on its core mining and development-stage projects.
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