Mr. Tim Gabruch reports
ISOENERGY INCREASES FINANCING TO $18.3 MILLION
Further to its news release of Nov. 16, 2022,
IsoEnergy Ltd. has upsized the offering by agreeing to sell an additional 900,000 non-flow-through common shares of the company at a price of $3.33 per common share for aggregate gross proceeds of $3-million.
The additional offering is expected to close on or about Dec. 6, 2022, and is subject to the satisfaction of customary closing conditions for transactions of this nature, including the completion of definitive documentation and the receipt of all necessary stock exchange and regulatory approvals. The securities issued under the additional offering will be subject to a statutory hold period in Canada expiring four months and one day from the closing date.
IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the infrastructure-rich eastern Athabasca basin in Saskatchewan, Canada. In 2018, the company discovered the high-grade Hurricane deposit on its 100-per-cent-owned Larocque East property in the eastern Athabasca basin. The Hurricane deposit has indicated mineral resources of 48.61 million pounds U3O8 (triuranium octoxide) based on 63,800 tonnes grading 34.5 per cent U3O8 and inferred mineral resources of 2.66 million pounds U3O8 based on 54,300 tonnes grading 2.2 per cent U3O8 (July 8, 2022). The Hurricane deposit is 100 per cent owned by IsoEnergy and is unencumbered from any royalties. 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.
Qualified person statement
All scientific and technical information in this press release has been reviewed and approved by Andy Carmichael, PGeo, IsoEnergy's vice-president, exploration. Mr. Carmichael is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects. For additional information regarding the company's Larocque East property, please see the technical report titled "Technical Report on the Larocque East Project, Northern Saskatchewan, Canada," dated Aug. 4, 2022, available on the company's profile.
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