The TSX Venture Exchange has accepted for filing documentation pertaining to an option agreement dated July 15, 2020, between IsoEnergy Ltd. and non-arm's-length party Consolidated Uranium Inc. Pursuant to the agreement, Consolidated Uranium will have the option to acquire a 100-per-cent interest in a uranium project property, namely the Mountain Lake uranium project, a property located in Nunavut, Canada.

Under the terms of the agreement and as consideration for the option grant, Consolidated Uranium has agreed to pay the company an aggregate of $20,000 in cash and an initial issuance of 900,000 Consolidated Uranium common shares.

Further, in order to exercise its option, Consolidated Uranium must pay the company an additional consideration of $1-million, payable in cash or shares of Consolidated Uranium. The option is exercisable for a period of two years. Additionally, on exercise of the option, Consolidated Uranium may have to make additional contingent payments for an aggregate amount of $1,845,000 to the company, payable in cash or shares of Consolidated Uranium, subject to the satisfaction of certain milestones.

For further details, please refer to the company's news releases dated July 16, 2020, and Dec. 29, 2021.