Cosa Resources appoints Rodko VP, corporate development

Executive Summary

• Cosa Resources Corp. has promoted Justin Rodko to Vice-President, Corporate Development, recognizing his contributions to corporate strategy and the company's transformative transaction with Denison.
• The company issued 1.96 million common shares to Denison Mines Corp. as partial satisfaction of deferred consideration under their November 2024 acquisition agreement.
• Following this issuance, Denison’s beneficial ownership increased to 18.26% of Cosa’s issued and outstanding shares, and approximately $1.49 million in deferred consideration remains payable via future share issuances.

Key Details

• Management Appointment: Justin Rodko appointed as VP, Corporate Development. He is a professional geoscientist with over a decade of uranium exploration experience in the Athabasca basin, previously serving as Senior Geologist at IsoEnergy where he contributed to the discovery of the Hurricane deposit.
• Share Issuance Details:
  • Recipient: Denison Mines Corp. (largest shareholder and joint venture partner).
  • Quantity: 1,960,000 common shares.
  • Deemed Price: $0.3891 per share.
  • Purpose: Partial satisfaction of deferred consideration under the acquisition agreement dated Nov. 26, 2024.
• Financial Impact & Remaining Obligations:
  • Remaining Deferred Consideration: Approximately $1,487,364 remains payable to Denison.
  • Settlement Method: To be satisfied through future issuance of additional common shares per the acquisition agreement terms.
  • Hold Period: The issued shares are subject to a statutory hold period of four months and a day.
• Ownership Changes:
  • Pre-Issuance: Denison held 19,030,864 shares and 2,417,679 warrants (16.85% on a partially diluted basis).
  • Post-Issuance: Denison holds 20,990,864 shares (18.26% of issued and outstanding shares) and 2,417,679 warrants (9.81% of warrants).
  • Regulatory Filing: Denison is filing an early warning report under National Instrument 62-103.
• Operational Outlook:
  • CEO Keith Bodnarchuk announced upcoming detailed drill plans for the Darby and Murphy Lake North (MLN) joint ventures.
  • The company is preparing for its "largest and most significant drilling campaign to date."
  • Darby Project: Will evaluate target areas with anomalous uranium, clay alteration, and historical mineralization.
  • MLN Project: Will follow up on 2025 drilling that intersected broad zones of structurally controlled alteration over roughly two kilometers of strike length.
  • Both projects are 70/30 joint ventures between Cosa and Denison.

Notable Quotes

• Keith Bodnarchuk, President and CEO: "Justin's appointment to VP of corporate development is in recognition of the enormous role he's played since 2023 in building Cosa to its current form. He brings a unique combination of capital market skills and technical knowledge... We look forward to updating the market shortly on our detailed drill plans for the Darby and Murphy Lake North joint ventures prior to embarking on Cosa's largest and most significant drilling campaign to date."