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Denison Mines Up 4% as It Nears Threshold to Acquire White Canyon Uranium

Denison Mines Corp (DML.TO,DNN) is up more than 4.5% today with the uranium miner advancing in its bid to acquire in White Canyon Uranium (WU.V).

According to White Canyon, several of its larger individual shareholders have accepted Denison's off-market take-over bid, including Lulu Yu, owner of a 27% stake, and Michael Shumway, the company's Operations Manager who owns 20% of White Canyon shares.

Through last night, just over 161 million shares are been accepted as part of Denison's A$57 proposed buyout of the Australian company, representing 69.8% of all White Canyon shares. Denison has a 90% threshold to reach in order to pull off the deal.

White Canyon shares, which also trade on the Australian Stock Exchange, are steady today at $0.235 each.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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