15:52:40 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



IsoEnergy Ltd
Symbol ISO
Shares Issued 68,432,642
Close 2019-12-09 C$ 0.395
Market Cap C$ 27,030,894
Recent Sedar Documents

IsoEnergy closes private placement for $3.22-million

2019-12-09 22:50 ET - News Release

Mr. Craig Parry reports

ISOENERGY CLOSES NON-BROKERED PRIVATE PLACEMENT

IsoEnergy Ltd. has closed its previously announced non-brokered private placement, pursuant to which the company issued 8,056,858 units of the company at a price of 40 cents per unit, for gross proceeds of $3,222,743.20.

Each unit is composed of one common share of the company and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling 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. The gross proceeds from the sale of units will be used for exploration on the company's projects and general corporate purposes. No commission is payable under the non-brokered financing. The non-brokered financing is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

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

Under the non-brokered financing, the following insiders of the company purchased common shares: NexGen Energy Ltd. purchased 7,371,858 units under the non-brokered financing; Craig Parry, president, chief executive officer and a director of the company, purchased 50,000 units under the non-brokered financing; and Steven Blower, vice-president of exploration of the company, purchased 10,000 units under the non-brokered financing. Their participation is considered to be a related-party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities to be distributed in the non-brokered financing, nor the consideration to be received for those securities, insofar as the non-brokered financing involves the insiders, exceeds 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days before the expected closing of the non-brokered financing as the details of the non-brokered financing and the participation therein by related parties of the company were not settled until shortly prior to closing and the company wished to close on an expedited basis for sound business reasons.

About IsoEnergy Ltd.

IsoEnergy is a well-financed uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca basin in Saskatchewan, Canada, and a historical inferred mineral resource estimate at the Mountain Lake uranium deposit in Nunavut. 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.

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