TORONTO – Denison Mines has signed an agreement to acquire all of the common shares of Saskatoon-based JNR Resources in a all share deal. JNR shareholders will receive 0.073 of a Denison common share for each JNR share they hold. When the transaction is complete, former JNR shareholders will own 2.0% of Denison. The terms of the agreement value JNR at $10 million.
After consulting financial and legal advisers, the JNR board has unanimously approved the takeover.
JNR and Denison are joint venture partners in several uranium exploration plays in Saskatchewan's Athabasca Basin. Please see JNRResources.com.