Denison Mines Corp. (DML.TO and NYSE American: DNN) was at last look up 1% in US premarket trade as it lifted its stake in Foremost Clean Energy Ltd. (NASDAQ:FMST and CSE:FAT) after offering.
In a statement Denison noted the offering provides Foremost with significant funding to support its objective of exploring a portfolio of Saskatchewan uranium exploration properties pursuant to an option agreement entered into with Denison on September 23, 2024. Denison participated in the Offering.
Denison exercised its rights under its Investor Rights Agreement with Foremost and acquired 607,600 units, comprised of 607,600 Foremost common shares and 607,600 Offering Warrants, for $3.00 per unit, for an aggregate subscription price of $1,822,800. Denison now owns 1,977,410 Foremost common shares and 607,600 Foremost warrants, immediately following the closing of the Offering, representing 19.13% of the issued and outstanding common shares of Foremost and 13.09% of the issued and outstanding warrants of Foremost.
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