Cosa Resources Issues Deferred Payment Shares to Denison Mines
Cosa Resources Issues Deferred Payment
Shares to Denison Mines
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2026) -
Cosa Resources Corp. (TSXV:
COSA) (OTCQB: COSAF) (FSE: SSKU)
("
Cosa
" or the "
Company
") is pleased to announce that it
has issued common shares (the "
Deferred Consideration Shares
") to Denison Mines Corp.
("
Denison
")
(TSX: DML) (NYSE American: DNN)
as full satisfaction of the deferred consideration (the
"
Deferred Consideration
") pursuant to the acquisition agreement (the "
Acquisition Agreement
")
between Cosa and Denison.
Keith Bodnarchuk, President and CEO, commented:
"Working closely with Denison since January
2025 has been incredibly rewarding for the Company and we are very pleased to continue to work with
Denison as our largest shareholder and joint venture partner. Full satisfaction of the Deferred
Consideration combined with the recently completed $12 million bought deal financing has left the
Company debt free and well financed through 2027. With an irrevocable 70% ownership in the Murphy
Lake North joint venture and an ongoing drill program that is the largest in Cosa's history, we are
excited for the future and thank Denison for their continued support and participation."
Deferred Consideration Shares
The Company announces that it has issued an aggregate of 2,154,476 Deferred Consideration Shares
at a deemed price of $0.69036 per share as full satisfaction of the Deferred Consideration per the
Acquisition Agreement between Cosa and Denison dated November 26, 2024. The Deferred
Consideration Shares are subject to a statutory hold period of four months and a day.
Denison will be filing an early warning report, under National Instrument 62-103 -
The Early Warning
System and Related Take-Over Bid and Insider Reporting Issues
in respect of its acquisition of the
2,154,476 Deferred Consideration Shares.
Prior to the issuance of the Deferred Consideration Shares
by Cosa, Denison held 21,740,864 Shares and 2,417,679 common share purchase warrants,
representing 17.5% of Cosa on a partially-diluted basis. Immediately after giving effect to the issuance of
the Deferred Consideration Shares, Denison had beneficial ownership of, or control and direction over,
23,895,340 Shares, representing 18.9% of the issued and outstanding Shares of Cosa on a partially-
diluted basis as of the date hereof and 2,417,679 common share purchase warrants, representing
13.5% of Cosa's issued and outstanding warrants. The Deferred Consideration Shares were acquired
pursuant to Denison's rights under the Acquisition Agreement and held by Denison for investment
purposes. Denison intends to review, on a continuous basis, various factors related to its investment in
Cosa, and may decide to acquire or dispose of additional securities of Cosa as future circumstances
may dictate, including pursuant to the exercise of warrants, the terms of the Acquisition Agreement
and/or its pre-emptive rights under the Investor Rights Agreement between Denison and Cosa. Further
information will be available in the early warning report to be filed by Denison under Cosa's profile on
SEDAR+ or by contacting Denison:
Geoff Smith, Vice President Corporate Development & Commercial
Denison Mines Corp.
Suite 1100 - 40 University, Toronto, Ontario M5J 1T1
About Cosa Resources Corp.
Cosa Resources is a Canadian uranium exploration company operating in northern Saskatchewan. The
portfolio comprises roughly 237,000 ha across multiple underexplored 100% owned and Cosa-operated
joint venture projects in the Athabasca Basin region, the majority of which reside within or adjacent to
established uranium corridors.
In January of 2025, the Company entered a transformative strategic collaboration with Denison Mines
(TSX: DML) (NYSE American: DNN) that has secured access to several additional highly prospective
eastern Athabasca uranium exploration projects. As Cosa's largest shareholder, Denison gains
exposure to Cosa's potential for exploration success and its pipeline of uranium projects.
The Company's primary focus through the remainder of 2026 will be drilling at the Murphy Lake North
and Darby projects in the eastern Athabasca Basin. Drilling at Murphy Lake North will follow up uranium
mineralization within an extensive zone of strong structure and hydrothermal alteration at the Cyclone
trend. Drilling at Darby will follow up on intersections of anomalous geochemistry, structure, and zones of
hydrothermal alteration from both winter 2026 drilling and historical drilling.
Cosa's award-winning management team has a track record of success in Saskatchewan. In 2022,
members of the Cosa team were awarded the AME Colin Spence Award for the discovery of the
Hurricane uranium deposit. Cosa personnel led teams or had integral roles in the discovery of Denison's
Gryphon deposit and held key roles in the founding of both NexGen and IsoEnergy.
Contact
Keith Bodnarchuk, President & CEO
+1 888-899-2672 (COSA)
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 this
release.
Cautionary Statements
This press release contains forward-looking information within the meaning of Canadian securities laws
(collectively "forward-looking statements"). Forward-looking statements are typically identified by words
such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are
those, which, by their nature, refer to future events. All statements that are not statements of historical fact
are forward-looking statements. These forward-looking statements or information may relate to
anticipated exploration, development and/or expansion activities, including exploration of the Company's
current Projects; the collaboration with Denison, including the Joint Venture, and the anticipated benefits
thereof; and the outlook regarding Cosa's business plans and objectives.
Such forward-looking information and statements are based on numerous assumptions, including
among others, that the results of planned exploration activities are as anticipated, the cost of planned
exploration activities are as anticipated, that general business and economic conditions will not change
in a material adverse manner, that financing will be available if and when needed and on reasonable
terms, that third party contractors, equipment and supplies and governmental and other approvals
required to conduct Cosa's planned exploration activities will be available on reasonable terms and in a
timely manner. Although the assumptions made by Cosa in providing forward-looking information or
making forward-looking statements are considered reasonable by management at the time, there can
be no assurance that such assumptions will prove to be accurate.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other
factors which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors and risks include, among others: Cosa may require additional
financing from time to time in order to continue its operations which may not be available when needed
or on acceptable terms and conditions acceptable; Cosa may not be able to maintain compliance with
its contractual obligations with third parties; Cosa may not be able to maintain compliance with extensive
government regulation applicable to its operations; domestic and foreign laws and regulations could
adversely affect Cosa's business and results of operations; the stock markets have experienced volatility
that often has been unrelated to the performance of companies and these fluctuations may adversely
affect the price of Cosa's securities, regardless of its operating performance; the ongoing military
conflict in Ukraine, and other risk factors set out in Cosa's public disclosure documents.
The forward-looking information contained in this news release represents the expectations of Cosa as
of the date of this news release and, accordingly, is subject to change after such date. Readers should
not place undue importance on forward-looking information and should not rely upon this information as
of any other date. Cosa does not undertake any obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/305222