Canadian uranium producer Denison Mines says it has agreed to sell 19-point-nine percent of the company to the Korea Electric Power Corporation.

Denison also said Tuesday that it will sell 20 percent of its annual production to KEPCO through 2015.

Under the deal, Denison will sell between 230 and 300 tons of uranium to KEPCO annually between 2010 and 2015 at a price to be determined on industry standard terms.

KEPCO will be able to appoint two directors to Denison's board and has the right of first offer to acquire up to 20 percent of any assets Denison acquires or sells.