Deal terminated by Rockgate
Mega was informed by Rockgate that a formal takeover bid for all of Rockgate's outstanding common shares has been made by Denison Mines Corp., which the board of directors of Rockgate determined constitutes a "Superior Proposal" for the purposes of the arrangement agreement. Following consideration of the Denison bid and its impact on Rockgate, including the increased transaction costs anticipated be incurred by Rockgate, Mega waived its rights under the arrangement agreement to propose to amend the terms of the merger to match the bid. Consequently, Rockgate terminated the arrangement agreement in accordance with its terms and concurrently paid the $1 million termination fee to the Company.