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Denison Mines to raise C$10M for Canadian uranium exploration

Denison MinesCorp. said May 3 that it will raise about C$10.0 million through anissue of flow through shares on a bought-deal basis.

A syndicate of underwriters, co-led by Dundee SecuritiesLtd. and TD Securities Inc., agreed to purchase 12.2 million flow-throughcommon shares of Denison at 82 cents apiece.

The miner has granted the underwriters an option to sell upto an additional 20% of the total shares being offered, at the same price.

Denison expects the offering to close by May 20.

Proceeds will be used on exploration at its uranium projectsin Saskatchewan. The expenses are set to be renounced no later than Dec. 31.