Post by Franko10 ™ on Nov 21, 2006 19:40:37 GMT -5
Shareholders okay Denison merger
00:00 EST Tuesday, November 21, 2006 TORONTO -- Shareholders of Denison Mines Inc. and International Uranium Corp. voted by more than 99 per cent yesterday to approve a merger creating a company with the critical mass to thrive in the increasingly hot uranium market.
In two brief meetings, each attended by three dozen people who were largely insiders, investors endorsed the deal to put together an enterprise aiming at annual production of 5.5 million pounds of uranium oxide by 2010.
Denison stockholders will exchange each of their shares for 2.88 International Uranium shares, and will own slightly less than half of the combined corporation immediately after the merger -- but slightly more than half on a fully diluted basis, including options and warrants.
The new company is to be known as Denison Mines Ltd., trading on the Toronto Stock Exchange under the ticker symbol DML.
There is only one way to happiness, and that is to cease worrying things which are beyond the power of our will.