Brief: Denison says to acquire the Hook-Carter property from ALX Uranium

ALX Resources

13/10/2016 11:30

Oct 13 (Reuters) - Denison Mines Corp  DML.TO  
    * Announces transaction to acquire the Hook-Carter property 
from ALX Uranium Corp. 
    * Says under terms of agreement, ALX will retain a 20 
percent interest in property 
    * Company acquires an immediate 80 percent ownership in 
entire property in exchange for issuance of 7.5 million Denison 
common shares to ALX 
    * Says if Denison does not meet $3.0 million  work 
commitment, ALX's interest will increase from 20 percent to 25 
percent 
    * 36 months after effective date of deal, parties to form 
JV, where material decisions to be carried by vote representing 
51 percent ownership interest 
 
Source text for Eikon:  ID:nCCN5Qkqyv  
Further company coverage:  DML.TO  
 
 ((Bangalore.newsroom@thomsonreuters.com;))