Denison was formed by articles of amalgamation as, International Uranium Corporation ("IUC"), effective May 9, 1997 pursuant to the Business Corporations Act (Ontario) (the "OBCA"). On December 1, 2006, IUC combined its business and operations with Denison Mines Inc. ("DMI"), by way of arrangement under the OBCA (the "IUC Arrangement"). Pursuant to the IUC Arrangement, all of the issued and outstanding shares of DMI were acquired in exchange for IUC's shares on the basis of 2.88 shares of IUC for each DMI share. Effective December 1, 2006, IUC's articles were amended to change its name to "Denison Mines Corp."
Prior to July 2012, Denison was engaged in the exploration, development, mining, and milling of uranium and vanadium, with projects in the United States, Canada, Zambia and Mongolia. At the time, Denison's principal assets included 100% ownership of the White Mesa Mill in Utah and 22.5% ownership of the McClean Lake uranium mill in Saskatchewan.
On June 29, 2012, Denison sold its shares in certain subsidiaries, which owned all of the Company's mining assets and operations located in the United States ("U.S. Mining Division"). The sale was carried out by way of a plan of arrangement between Denison and Energy Fuels Inc. ("EFR"). After completing the various steps in the plan of arrangement, Denison shareholders retained their interest in Denison and received 1.106 common shares of EFR for each Share held in Denison.
By completing the transaction with EFR, Denison transformed its business so as to focus on its uranium exploration and development projects in Saskatchewan, Zambia and Mongolia.
On January 31, 2013 Denison completed the acquisition of JNR Resources Inc. ("JNR"). The acquisition increased Denison's interests in five exploration property joint arrangements with JNR to 100%, and added seven exploration properties to Denison's property portfolio in Saskatchewan as well as two properties in Newfoundland.
On April 26, 2013 Denison closed a transaction with Fission Energy Corp. ("Fission") whereby Denison acquired a portfolio of uranium exploration projects held by Fission, including Fission's 60% interest in the Waterbury Lake uranium project, as well as Fission's exploration interests in all other properties in the eastern part of the Athabasca Basin, Quebec and Nunavut, plus its interest in two joint ventures in Namibia. The transaction was completed pursuant to a plan of arrangement (the "Arrangement") in accordance with the Business Corporations Act (Canada). As a result of the Arrangement, Denison acquired all of the outstanding common shares of Fission (the "Fission Shares") with Fission spinning out certain assets into a newly-incorporated exploration company, Fission Uranium Corp. ("Fission Uranium"). Under the Arrangement, each Fission Share was exchanged for 0.355 of a common share of Denison, a nominal cash payment of $0.0001 and one (1) common share of Fission Uranium.
On January 17, 2014 Denison acquired all of the issued and outstanding common shares of Rockgate Capital Corp. not previously owned by it for 0.192 of a Denison common share for each Rockgate common share acquired. In addition, pursuant to the Arrangement all Rockgate stock options terminated effective January 17, 2014.
On June 6, 2014 Denison acquired all of the issued and outstanding common shares ("IEC Shares") of IEC. The acquisition of IEC was completed by way of plan of arrangement under the Business Corporations Act
(British Columbia) (the "Arrangement"). As a result of the Arrangement, Denison acquired all of the issued and outstanding IEC Shares that it did not already own, while certain non-Canadian assets were spun out to a 0999279 B.C. Ltd., a former subsidiary of IEC ("Spinco").
Under the Arrangement, each IEC Share was exchanged for 0.26 of a Denison common share, one common share of Spinco, and one-half of a warrant to acquire an additional Spinco share at a price of $5.00 for six months. Any outstanding warrants and options of IEC were automatically exchanged for options and warrants of Denison and Spinco. All options and warrants of Denison have been adjusted by reference to the exchange ratio of 0.26. The Denison options issued in the exchange will expire in 90 days, and the Denison warrants issued in the exchange will expire in accordance with the expiry dates of the original IEC warrants.
On December 1, 2015 the Company announced the receipt of US$1,250,000 in initial payments from Uranium Industry a.s. ("Uranium Industry"), of the Czech Republic, and the closing of the sale of its interest in the Gurvan Saihan joint venture ("GSJV"), pursuant to an amended and restated share purchase agreement (the "Agreement") entered into on November 25, 2015.
Under the terms of the Agreement, Denison received US$1,250,000 on or prior to Closing (as defined in the Agreement), and has rights to receive additional proceeds from the sale of up to US$12,000,000, for total consideration of US$13,250,000.
On June 13, 2016 GoviEx Uranium Inc. and Denison Mines Corp. announced the completion of the transaction to combine their respective African uranium mineral interests (the "Transaction"), previously announced on March 30, 2016.
Under the terms of the Transaction, GoviEx has acquired Denison's wholly owned subsidiary, Rockgate Capital Corp., which holds all of Denison's Africa-based uranium interests (collectively "DML Africa"), in exchange for 56,050,450 shares of GoviEx (the "Consideration Shares") and 22,420,180 common share purchase warrants of GoviEx (the "Consideration Warrants").