Denison Mines (TSX: DML; NYSE-AM: DNN) is offering to buy JCU (Canada) Exploration Company, a wholly owned subsidiary of Overseas Uranium Resources Development Company Ltd., for cash payments of up to $40.5 million in three instalments and the assumption of JCU's liabilities. JCU (Canada) Exploration Company holds a 10% stake in Denison's 90%-owned Wheeler River project, which Denison describes as the largest undeveloped uranium project in the eastern portion of northern Saskatchewan's Athabasca Basin.
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