The Prospector News

Existing Large Shareholder Increases Position in GoviEx in Transaction Worth up to CAD 41.6 Million

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Existing Large Shareholder Increases Position in GoviEx in Transaction Worth up to CAD 41.6 Million

 

 

 

 

 

GoviEx Uranium Inc. (TSX-V: GXU) (OTCQB: GVXXF) announced that Denison Mines Corp has entered into a private agreement to sell 32,500,000 common shares of the 65,144,021 common shares it holds in GoviEx at an attributed value of CAD 0.48 and warrants to acquire an additional 32,500,000 common shares of Goviex held by Denison at an exercise price of CAD 0.80 per share for a term of 18 months. The purchaser of the single block is already a large existing institutional shareholder of GoviEx. Following this single transaction, Denison will own approximately 6% of GoviEx’s current issued share capital.

 

David Cates, the CEO of Denison, will remain on the Board of GoviEx following the completion of this transaction.

 

Govind Friedland, GoviEx’s Executive Chairman, said:

 

“This transaction announced today between two existing GoviEx shareholders demonstrates strong institutional demand and continued interest in the uranium sector and in GoviEx’s equity. The second part of the transaction entitles the purchasing party to warrants exercisable at CAD 0.80, which is a positive sign of confidence in our management team and in the strength of our pipeline of uranium assets.”

 

Denison’s shareholding in GoviEx originated as part of a strategic transaction in 2016, in which GoviEx acquired Denison’s wholly owned subsidiary, Rockgate Capital Corp., which held all of Denison’s Africa-based uranium interests in exchange for 56,050,450 shares of GoviEx and 22,420,180 common share purchase warrants.

 

About GoviEx Uranium Inc.

 

GoviEx is a mineral resource company focused on the exploration and development of uranium properties in Africa. GoviEx’s principal objective is to become a significant uranium producer through the continued exploration and development of its flagship mine-permitted Madaouela Project in Niger, its mine-permitted Mutanga Project in Zambia, and its multi-element Falea Project in Mali.

 

Posted October 21, 2021

Share this news article

MORE or "UNCATEGORIZED"


Aris Gold Announces Encouraging Results From Its Initial Drill Program at the Juby Gold Project In Ontario

Aris Gold Corporation (TSX: ARIS) (OTCQX: ALLXF) announces the encourag... READ MORE

December 8, 2021

Goldshore Resources Intersects 117.12m @ 1.26 g/t Au from 1.1m in MMD-21-004

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

December 8, 2021

Omai Gold Announces Final Wenot 2021 Drill Results Including 15.2 g/t Au over 6.0 metres and 2.3 g/t over 10.5 m and Drilling Commenced at Broccoli Hill

Omai Gold Mines Corp. (TSX-V: OMG) is pleased to report that the ... READ MORE

December 8, 2021

Summa Silver Intersects 702 g/t Silver Equiv. over 3.9 m and 4,116 g/t Silver Equiv. over 0.4 m at the High-Grade Silver-Gold Hughes Property, Nevada

High-Grade Mineralization Continues to Expand in Stacked Veins at... READ MORE

December 8, 2021

Osisko Windfall Drilling Intercepts Wide High-Grade in Expansion Holes

163 g/t Au over 8.8 metres in Lynx 4   32.4 g/t Au over 5.7 metr... READ MORE

December 8, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News