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International Enexco Acquired by Denison Mines Corp.

09.06.2014  |  Marketwired
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Jun 9, 2014) - International Enexco Ltd. (TSX VENTURE:IEC) (OTCQX:IEXCF)(FRANKFURT:I6E) (the "Company" or "IEC") is pleased to announce that the previously disclosed acquisition of the Company by Denison Mines Corp. ("Denison") by way of plan of arrangement (the "Arrangement") was completed on June 6, 2014. Pursuant to the Arrangement, Denison has acquired all of the outstanding common shares of the Company ("IEC Shares") that it did not aready own, with the Company spinning out its U.S. assets into a former subsidiary of the Company ("Spinco").

The Transaction

Under the Arrangement, each IEC Share was exchanged for 0.26 of a Denison common share, one common share of Spinco, and one-half of a warrant to acquire an additional Spinco share, exercisable for 6 months at a price of $5.00 for each whole share to be acquired. Any outstanding warrants and options of IEC were automatically exchanged for options and warrants of Denison and Spinco. All options and warrants of Denison have been adjusted by reference to the exchange ratio of 0.26. The Denison options received as a result of this exchange will expire in 90 days, and the Denison warrants expire in accordance with the expiry dates of the original IEC warrants.

Trading of the Company's shares was halted at the Company's request at close of market on June 6, 2014, and IEC Shares are expected to remain halted until it is de-listed on June 10, 2014. Any IEC Shares traded prior to the trading halt that have not yet settled represent only an entitlement to receive the consideration under the Arrangement, as described above. IEC will apply to cease to be a reporting issuer under the securities laws of British Columbia and Alberta as soon as possible.

IEC shareholders who have not yet done so are encouraged to tender any remaining IEC shares by contacting Computershare Investor Services Inc. toll free at 1-800-564-6253 or by email at

Additional information on the Arrangement may be found in the Company's filings on including the Company's information circular dated May 2, 2014 and the arrangement agreement between the Company and Denison dated April 11, 2014.

The Copper Arrangement

On June 5, 2014, as a pre-completion step to the Arrangement, the Company transferred all of the issued and outstanding securities of its wholly owned subsidiary, Enexco International Inc. ("EIC"), holding the Contact Copper Project in Nevada, to Spinco along with certain intercompany debt between the Company and EIC.

On June 3, 2014, the Company announced that Spinco and the Company had entered into a definitive arrangement agreement with respect to the previously announced letter of intent dated March 19, 2014.

Additional information on the Copper Arrangement may be found in the Company's filings on or by calling 604-669-8368.

Cautionary Statements:

Trading in the securities of exploration and development stage resource companies should be considered highly speculative.

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with fixed exchange ratios, the potential for the Arangement to be terminated, including as a result of a material adverse change in the Company, volatility of prices, currency fluctuations and ability to access sufficient capital. Although the Company believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review their annual filings that are available at

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of of this news release.


International Enexco Ltd.
Ron Hochstein, President and Chief Executive Officer
(416) 979 - 1991 ext 232

International Enexco Ltd.
Sophia Shane, Investor Relations
(604) 689 - 7842
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