Today, ALX Uranium Corp (V:AL) announced a definitive agreement with Denison Mines Corp. (NYSE:DNN) to sell an immediate 80% ownership of the Hook-Carter Property in exchange for 7.5 million Denison shares to be issued to ALX.
Jon Armes (President and CEO of ALX) commented in today’s press-release:
“We are pleased to welcome Denison to the Hook-Carter Property as project operator and are excited to see the next $12 million in exploration on the Property funded without having to further dilute ALX’s shareholders. Denison has made a number of world class uranium discoveries within the Athabasca Basin, and given their experience, believe that they will advance the project diligently and methodically. Knowing that Hook-Carter Property will see considerable exploration efforts over the next 36 months, the company will focus on exploration at its other high-quality exploration projects in and around the shallow margins of the Athabasca Basin, which include Gorilla Lake, Newnham Lake, Gibbons Creek and Lazy Edward Bay.”