08:50:44 EDT Mon 15 Apr 2024
Enter Symbol
or Name
USA
CA



IsoEnergy Ltd
Symbol ISO
Shares Issued 173,346,620
Close 2024-02-08 C$ 5.18
Market Cap C$ 897,935,492
Recent Sedar Documents

IsoEnergy closes $23-million private placement

2024-02-09 10:49 ET - News Release

An anonymous director reports

ISOENERGY COMPLETES C$23 MILLION BOUGHT DEAL PRIVATE PLACEMENT

IsoEnergy Ltd. has closed its previously announced bought deal brokered private placement announced on Jan. 18, 2024, pursuant to which the company sold 3.68 million federal flow-through common shares of the company (the premium FT shares) at an offer price of $6.25 per premium FT share, for aggregate gross proceeds of $23-million, which includes the full exercise of the underwriters' overallotment option. The offering was conducted by a syndicate of underwriters, co-led by Eight Capital and Haywood Securities Inc., as joint bookrunners, and including Canaccord Genuity Corp., PI Financial Corp., Red Cloud Securities Inc. and TD Securities Inc.

The proceeds from the issuance of the premium FT shares are expected to be used to incur eligible Canadian exploration expenses (CEE) as defined in the Income Tax Act (Canada) (the ITA) that will qualify as flow-through critical mineral mining expenditures as defined in the ITA, after the closing date and on or prior to Dec. 31, 2025, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of premium FT shares. IsoEnergy will renounce the CEE (on a pro rata basis) to the applicable subscriber of premium FT shares with an effective date of no later than Dec. 31, 2024, in accordance with the ITA. The proceeds from the offering are expected to be used for exploration of the company's Athabasca basin portfolio, including the Larocque East project and Hawk project, and for exploration of the company's Quebec properties.

The premium FT shares issued pursuant to the offering are subject to a hold period of four months and one day under applicable Canadian securities laws.

In connection with the offering, the underwriters received a cash fee in an amount representing 6 per cent of the gross proceeds of the offering.

Corporate update

IsoEnergy is also pleased to announce that it has engaged Momentum IR Corp., a Toronto-based investor relations and corporate communications firm. Momentum was previously engaged by Consolidated Uranium Inc., a wholly owned subsidiary of the company, and will continue to provide IsoEnergy with investor relations and advisory services. The initial term of the engagement is for 12 months with a monthly retainer of $12,000 per month. IsoEnergy also issued 37,500 stock options to Momentum on Dec. 29, 2023, each of which entitles Momentum to acquire one common share of the company at a price of $3.55 for a period of five years. To the knowledge of the company, Momentum and/or its affiliates currently hold 1,250 common shares of the company and 114,750 stock options; however, Momentum may from time to time acquire or dispose of securities of the company through the market, privately or otherwise, as circumstances or market conditions warrant. Momentum is at arm's length to IsoEnergy and has no other relationship with IsoEnergy, except pursuant to the engagement. The agreement and the grant of the stock options is subject to the approval of the TSX Venture Exchange.

About IsoEnergy Ltd.

IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the United States, Australia and Argentina at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada's Athabasca basin, which is home to the Hurricane deposit, boasting the world's highest-grade indicated uranium mineral resource.

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