Denison Mines to acquire Hook-Carter property from ALX Uranium
Denison Mines announced that it has executed a definitive agreement with ALX Uranium to acquire an immediate 80% ownership of the entire Hook-Carter property in exchange for the issuance of 7.5 million common shares of Denison. Under the terms of the Agreement, ALX will retain a 20% interest in the Property and Denison agrees to fund ALX's share of the first C$12M in expenditures. Denison agrees to a modest work commitment, whereby Denison is required to spend C$3.0M on the Property over the first 3 years. If Denison does not meet the $3.0M work commitment, ALX's interest will increase from 20% to 25% and Denison's interest in the project will decrease from 80% to 75%.