Denison Mines Receives Positive Arbitration Ruling Related To Sale Of Mongolian Assets

(RTTNews) - Denison Mines Corp. (DNN, DML.TO) announced Thursday that the London Court of International Arbitration has recently rendered a final award in favour of Denison for the previously disclosed arbitration proceedings between Denison and Uranium Industry a.s. or UI, related to the 2015 sale by Denison to UI of its mining assets and operations located in Mongolia.

The arbitration panel declared that UI violated its obligations to Denison under the related agreements, and ordered UI to pay the Company $10 million plus interest at a rate of 5 percent per annum from November 16, 2016, plus certain legal and arbitration costs. The arbitration panel further dismissed all other claims and counterclaims.

In November 2015, Denison completed the sale of its mining assets and operations located in Mongolia to UI pursuant to an amended and restated share purchase agreement.