Mr. Craig Parry of IsoEnergy reports

ISOENERGY CLOSES US$6 MILLION FINANCING WITH QUEEN'S ROAD CAPITAL

IsoEnergy Ltd. has closed the previously announced $6-million (U.S.) private placement of an unsecured convertible debenture with Queen's Road Capital Investment Ltd.

Craig Parry, IsoEnergy's chief executive officer, commented: "It is with great pleasure that we welcome Queen's Road Capital as a strategic investor of IsoEnergy and we look forward to working with Warren Gilman and his team as we continue with advanced exploration and resource delineation at Hurricane. Summer drilling at Hurricane is scheduled to commence very soon, and the company is now fully funded with over $14.5-million in the treasury."

The debenture will be convertible at the holder's option at a conversion price of 88 cents into a maximum of 9,206,311 common shares of the company (with the exact number of common shares to be issued to be based on the exchange rate at the time of conversion).

The company will be entitled, on or after the third anniversary of the date of issuance of the debenture, at any time the 20-day volume-weighted average price on the TSX Venture Exchange exceeds 130 per cent of the conversion price, to redeem the debenture at par plus accrued and unpaid interest.

The debenture will carry an 8.5-per-cent coupon (over a five-year term and will be convertible at the holder's option into common shares of the company at a conversion price of 88 cents, which price will be converted to U.S. dollars at the time of conversion). The interest is payable semi-annually with 6 per cent payable in cash and 2.5 per cent payable in common shares of the company, subject to TSX Venture Exchange approval, at a price equal to the market price of the company's common shares on the TSX-V on the day prior to the date such interest is due.

The interest can be reduced to 7.5 per cent per annum on the public dissemination by the company of an economically positive preliminary economic assessment study, at which point the cash component of the interest will be reduced to 5 per cent per annum.

In connection with the issuance of the debenture, the company has issued 219,689 common shares to Queen's Road as an establishment fee. All securities issued in connection with this financing will have a four-month hold period expiring on Dec. 18, 2020.

Including the proceeds from the recently closed non-brokered private placement, IsoEnergy will have approximately $14.5-million in the treasury. Proceeds from the non-brokered private placement and the debenture will be used for exploration of the company's properties in the Athabasca basin, Saskatchewan, and for general working capital purposes.

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. The company recently discovered the high-grade Hurricane zone of uranium mineralization on its 100-per-cent-owned Larocque East property in the eastern Athabasca basin. 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 Ltd.

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