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

Thu Oct 13, 2016 6:45am EDT
 
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Oct 13 (Reuters) - Denison Mines Corp

* 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: Further company coverage: