An anonymous director reports
ISOENERGY CLOSES $1.1 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARES AND EXTENDS RADIO OPTION AGREEMENT
IsoEnergy Ltd. has completed a non-brokered private placement of 999,999 flow-through common shares at a price of $1.10 per share, raising aggregate gross proceeds of $1,099,998.90.
IsoEnergy will use the proceeds of the private placement to continue its exploration activities on its projects in the Athabasca basin, Saskatchewan. The securities issued pursuant to the offering are subject to a hold period of four months and one day from the closing date of the offering.
In connection with the offering, the company paid a cash finder's fee to EMD Financial Inc., equal to 6 per cent of the gross proceeds raised from placees.
The company has also granted 50,000 stock options on May 25, 2017, to a contract geologist having an exercise price of $1, a term of five years, and vesting as to one-third on the grant date and each of the second and third anniversaries thereof.
Finally, the company has entered into an agreement extending the date for the exercise by the company of its exclusive option to acquire a 70-per-cent interest in the Radio property option to June 20, 2017.
IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca basin in Saskatchewan, Canada, and a historical inferred mineral resource at the Mountain Lake uranium deposit in Nunavut. IsoEnergy is led by a board and management team with a record of success in uranium exploration, development and operations. The company was founded and is supported by the team at its major shareholder, NexGen Energy Ltd.
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