Mr. Craig Parry reports
ISOENERGY CLOSES PRIVATE PLACEMENTS
IsoEnergy Ltd. has closed its previously announced flow-through and non-flow-through non-brokered private placements. The company has issued 1,675,000 flow-through units at 54 cents per FT unit and 3,095,520 non-flow-through units at 40 cents per unit raising aggregate gross proceeds of $2,154,708. Each FT unit consists of one flow-through common share and one-half of a share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of three years at an exercise price of 60 cents. Each unit consists of one non-flow-through common share and one-half of a warrant.
With respect to the private placements, the company has paid finders' fees in the amount of 6 per cent, based on the sale of the FT units and units purchased by subscribers introduced to the company by such finders.
The proceeds from the flow-through private placement will be used for the continuation of exploration activities on the company's projects in the Athabasca basin, Saskatchewan. The proceeds from the non-flow-through private placement will be used both for exploration on the company's projects and for general corporate purposes.
The offering is subject to final approval of the TSX Venture Exchange, which is subject to filing final customary documentation. All securities issued in connection with the private placements are subject to a statutory hold period of four months plus a day expiring Aug. 20, 2018, in accordance with applicable securities legislation.
IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca basin in Saskatchewan, Canada, plus a historical uranium mineral resource at the Mountain Lake property in Nunavut.
We seek Safe Harbor.
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