Mr. Craig Perry reports

ISOENERGY ANNOUNCES BOUGHT DEAL PRIVATE PLACEMENT OF FT SHARES FOR C$3.50 MILLION AND A CONCURRENT NON-BROKERED PRIVATE PLACEMENT OF UNITS PURCHASED BY NEXGEN ENERGY FOR C$2.65 MILLION

IsoEnergy Ltd. has entered into an agreement with PI Financial Corp. for a bought deal private placement to raise aggregate gross proceeds of $3.5-million and a non-brokered private placement of units to raise aggregate gross proceeds of $2.65-million.

Bought private placement

Under the terms of the offering, the underwriter has agreed to purchase 7,778,000 flow-through common shares of the company at a price of 45 cents per FT share for aggregate gross proceeds of $3,500,100. The FT shares will qualify as "flow-through shares" as defined in the Income Tax Act (Canada).

The gross proceeds from the sale of the FT shares will be used for general exploration expenditures. The closing of the offering is anticipated to occur on or around Dec. 3, 2019, and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange.

The FT shares will be offered by way of a private placement pursuant to exemptions from the prospectus requirements to residents of all provinces of Canada and such other jurisdictions as may be agreed to by the company and the underwriter.

In consideration for their services, the underwriter will receive a cash commission equal to 6.0 per cent of the gross proceeds of the brokered financing and broker warrants to purchase such number of common shares as is equal to 6.0 per cent of the number of FT shares issued under the brokered financing at an exercise price equal to 45 cents per common share for a period of 24 months from the closing of the offering.

Non-brokered private placement

Under the non-brokered financing, the company will issue an aggregate of 6,625,000 units at a price of 40 cents per unit for aggregate gross proceeds of $2.65-million. The non-brokered financing will be fully subscribed for by NexGen Energy Ltd. The units are composed of one common share of the company and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to acquire one common share of the company at a price of 60 cents per common share for a period of 24 months following the date of issuance. No commission is payable under the non-brokered financing. The gross proceeds from the sale of units will be used for exploration on the company's projects and general corporate purposes.

All securities issued under the brokered financing and the non-brokered financing will be subject to a statutory hold period in Canada expiring four months and one day from the date of issuance.

We seek Safe Harbor.