VANCOUVER, BC, Oct. 17, 2016 /CNW/ - IsoEnergy Ltd.
("IsoEnergy" or the "Company") is pleased to announce
that it has completed its previously announced three-cornered
amalgamation (the "Amalgamation") with Airesurf Networks
Holdings Ltd. ("Airesurf") and has received conditional
approval to list its common shares on the TSX Venture Exchange
("TSXV").
On October 7, 2016, the TSXV
issued its conditional approval to the listing of IsoEnergy's
common shares on the TSXV, as a Tier 2 Mining Issuer. Listing
remains subject to the satisfaction of the TSXV's standard listing
conditions. It is anticipated that IsoEnergy will be listed
and commence trading on the TSXV under the symbol "ISO" on or about
October 19, 2016. In accordance with
the policies of the TSXV, 29,450,002 common shares, all held by
NexGen Energy Ltd., are subject to a Tier 2 Value Escrow Agreement
to be released in instalments over the ensuing 36 month period.
On October 13, 2016, a
newly-formed wholly-owned subsidiary of IsoEnergy amalgamated with
Airesurf under the Ontario
Business Corporations Act to form IsoOre Ltd., a
wholly-owned subsidiary of IsoEnergy. In connection with the
Amalgamation, IsoEnergy issued an aggregate of 302,881 common
shares to former shareholders of Airesurf, representing
approximately 1% of the issued and outstanding common shares of
IsoEnergy. The Amalgamation did not have any effect on the business
or financial condition of IsoEnergy. With the completion of
the Amalgamation, the Company will have 38,944,113 common shares
issued and outstanding and no convertible securities, of which
29,450,002 common shares are held by NexGen Energy Ltd.
For a further description of the Amalgamation and the business,
properties and capitalization of IsoEnergy please see the Listing
Application (Form 2B) that will be filed on www.sedar.com, under
IsoEnergy's profile.
The Company plans to use available funds to explore its Thorburn
Lake Project and Radio Project, all as more particularly described
in the Listing Application.
About IsoEnergy
IsoEnergy is a mineral exploration company that was incorporated
under the laws of the Province of British
Columbia as a wholly-owned subsidiary of NexGen Energy Ltd.
("NexGen") for the purpose of acquiring a portfolio of early
stage mineral exploration properties from NexGen. The
principal business activity of IsoEnergy is the acquisition and
exploration of early stage mineral properties. IsoEnergy is focused
primarily on the exploration of its Radio Project, in which it has
an exclusive right to earn a 70% interest, and its 100% owned
Thorburn Lake Project, in each case, located in the
Athabasca Basin of Saskatchewan. IsoEnergy also holds a 100%
interest in each of the Madison, 2Z, Carlson Creek and the Thorburn North
property.
IsoEnergy is led and supported by an experienced executive
management team and Board of Directors, all of whom have been or
are also involved with NexGen and the discovery and development of
its Rook 1 project, also located in the Athabasca Basin of Saskatchewan.
This news release contains "forward-looking information"
within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is
not limited to, statements with respect to the activities, events
or developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, listing of
IsoEnergy on the TSXV. Generally, but not always,
forward-looking information and statements can be identified by the
use of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or the negative connotation thereof or variations of
such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation
thereof.
Forward-looking information and statements are based on the
then current expectations, beliefs, assumptions, estimates and
forecasts about IsoEnergy's business and the industry and markets
in which it operates. Forward-looking information and statements
are made based upon certain assumptions and other important factors
that could cause the actual results, performances or achievements
of IsoEnergy to be materially different from future results,
performances or achievements expressed or implied by such
information or statements. Such information and statements are
based on numerous assumptions including, among others, that the
results of planned exploration activities are as anticipated, the
price of uranium, the anticipated cost of planned exploration
activities, that general business and economic conditions will not
change in a material adverse manner, that financing will be
available if and when needed on reasonable terms and that third
party contractors, equipment, supplies and governmental and other
approvals required to conduct IsoEnergy's planned exploration
activities will be available on reasonable terms and in a timely
manner.
Forward-looking information and statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of IsoEnergy to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, risks related to
the negative operating cash flow and dependence on third party
financing; the uncertainty of additional financing; potential
forfeiture of the Radio Option Agreement; the limited operating
history of IsoEnergy; the lack of known mineral resources or
reserves; the influence of a large Shareholder; alternate sources
of energy and uranium prices; aboriginal title and consultation
issues; risks related to exploration activities generally; reliance
upon key management and other personnel; title to properties;
uninsurable risks; conflicts of interest; permits and licences;
environmental and other regulatory requirements; political
regulatory risks; competition; and the volatility of share price,
all as more particularly described under "Risk Factors" in the
Company's Listing Application available at
www.sedar.com.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
SOURCE IsoEnergy Ltd.