Denison Mines Corp. entered into a Fourteenth Amending Agreement extending its Credit Agreement maturity to January 31, 2027, and modifying financial covenants.
Key takeaways
The Credit Agreement maturity date was extended from a prior date to January 31, 2027, providing continued access to credit facilities.
A new financial covenant requires consolidated Adjusted Tangible Net Worth to be maintained at a minimum of $131,000,000.
The definition of Adjusted Tangible Net Worth was added to adjust Tangible Net Worth for Convertible Unsecured Note Indebtedness.
A non-refundable extension fee of $25,000 was paid to the Administrative Agent as a condition precedent.
The Bank of Nova Scotia acts as the Administrative Agent for the Lenders in this amended facility.