The latest deal will see Denison Mines combine its business with Fission Uranium by way of a court-approved plan of arrangement.

The arrangement creates a new uranium firm focused in Canada. It combines assets and the management teams of Denison and Fission.

As per the deal, the existing shareholders of Denison and Fission will equally own the new company on a fully-diluted in-the-money basis.

The respective shareholder meetings of both the companies and the closing of the arrangement are anticipated to take place in October this year or such date as the parties may agree.

The combined company will have two uranium exploration and development projects that include Fission’s 100% owned Patterson Lake South project, and Denison’s 60% owned Wheeler River project,

Both projects are situated in the Athabasca Basin, in Northern Saskatchewan, Canada.

Denison Mines has interests in exploration and development projects in Canada, Zambia, Mali, Namibia and Mongolia.

Fission Uranium specializes in the exploration and development of the Patterson Lake South uranium property, which hosts the Triple R uranium deposit.