Denison Mines Strikes Deal to Acquire JNR Resources for $10 Million
Denison Mines Corp. (DML.TO) has signed an agreement to acquire JNR Resources Inc. (JNN.V) by way of a friendly take-over bid. The offer values JNR at approximately $10 million.
Under the terms of the offer, JNR shareholders will receive 0.073 of a Denison common share for each JNR Share deposited under the offer, provided that no fractional Denison shares will be issued. Upon completion of the transaction, shareholders of JNR will own 2% of Denison.
DML has hit a new year low of $1.13 today. It is now trading at $1.14 on volumes of over 168,000. JNN is sharply higher by 36% at $0.075 but is near year low 5 cents.
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