Proactive Investors reported that White Canyon Uranium directors have now recommended shareholders to accept the Denison Mines Corporation USD 0.24 takeover offer after releasing the target and bidders statements.

The Independent Expert has assessed the control value of White Canyon shares to be in the range of USD 0.172 to USD 0.211 per share assuming all options exercised and USD 0.174 to USD 0.217 assuming options are not exercised.

White Canyon controlling 19.8%, has already entered into a Pre-Bid Acceptance Deed. It is one of few uranium producers listed on the Australian and Toronto stock exchanges and was looking to take advantage of rising uranium prices with an exploration program aimed at lifting reserves from its tenements surrounding the Daneros Mine in Utah.

The offer values White Canyon at AUD 57 million, 51% premium over the 90 days of trading before a trading halt was announced. White Canyon is being advised by Apex Capital Partners as financial advisor and Norton Rose Australia as Australian legal advisor.

(Sourced from Proactive Investors)