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TORONTO, Feb. 13,
2025 /CNW/ - IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF)
(the "Company" or "IsoEnergy") is pleased to announce
it has entered into an agreement with a syndicate of underwriters
(the "Underwriters") led by Stifel Nicolaus Canada Inc.,
pursuant to which the Underwriters have agreed to purchase, on a
bought deal basis, 4,000,000 common shares that will qualify
as "flow-through shares" (within the meaning of subsection 66(15)
of the Income Tax Act (Canada) (the "Tax Act")) and will be
sold on a flow-through basis (the "PFT Shares") at a price
of C$3.75 per PFT Share (the "Offering Price") for
gross proceeds of C$15,000,000 (the "Offering").
The Company has agreed to grant the Underwriters an
over-allotment option to purchase up to an additional 600,000 PFT
Shares at the Offering Price, exercisable in whole or in part, at
any time and from time to time on or prior to the date that is 30
days following the closing of the Offering to cover
over-allotments, if any, and for market stabilization purposes. If
this option is exercised in full, an additional C$2,250,000 in gross proceeds will be raised
pursuant to the Offering and the aggregate gross proceeds of the
Offering will be C$17,250,000.
The Company will use an amount equal to the gross proceeds
received by the Company from the sale of the PFT Shares, pursuant
to the provisions in the Tax Act, to incur or cause to be incurred
eligible "Canadian exploration expenses" that qualify as
"flow-through critical mineral mining expenditures" as both terms
are defined in the Tax Act (the "Qualifying
Expenditures") related to the Company's mineral projects
located in Saskatchewan and
Quebec, on or before December 31, 2026, and to renounce the Qualifying
Expenditures (on a pro rata basis) in favour of the subscribers of
the PFT Shares with an effective date not later than December 31, 2025. The proceeds from the Offering
are expected to be used for exploration across the Company's
uranium assets located in Saskatchewan and Quebec.
The PFT Shares will be offered by way of a prospectus supplement
to be filed in all of the provinces and territories of Canada, except Quebec.
The Offering is scheduled to close on or about February 28, 2025 and is subject to certain
conditions including, but not limited to, the receipt of all
necessary approvals including conditional approval from the Toronto
Stock Exchange (the "Exchange") and the securities
regulatory authorities.
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy nor shall there be any sale of
the securities in any state in which such offer, solicitation or
sale would be unlawful. The securities being offered have not been,
nor will they be, registered under the U.S. Securities Act and may
not be offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the U.S. Securities Act, and
application state securities laws.
About IsoEnergy Ltd.
IsoEnergy (TSX: ISO) (OTCQX: ISENF) is a leading, globally
diversified uranium company with substantial current and historical
mineral resources in top uranium mining jurisdictions of
Canada, the U.S. and Australia 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.
IsoEnergy also holds a portfolio of permitted past-producing,
conventional uranium and vanadium mines in Utah with a toll milling arrangement in place
with Energy Fuels. These mines are currently on standby, ready for
rapid restart as market conditions permit, positioning IsoEnergy as
a near-term uranium producer.
Neither the Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this Press
release.
Disclosure regarding forward-looking statements
This press release contains "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", 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". This forward-looking
information may relate to the Offering, including statements with
respect to the completion of the Offering and the
anticipated closing date thereof; the expected receipt of
regulatory and other approvals relating to the Offering; the
expected proceeds of the Offering and the anticipated use of the
net proceeds therefrom; the expected incurrence by the Company of
Qualifying Expenditures; the renunciation by the Company of the
Qualifying Expenditures (on a pro rata basis) to each purchaser of
PFT Shares by no later than December 31,
2025; and any other activities, events or developments that
the companies expect or anticipate will or may occur in the
future.
Forward-looking statements are necessarily based upon a
number of assumptions that, while considered reasonable by
management at the time, are inherently subject to business, market
and economic risks, uncertainties and contingencies that may cause
actual results, performance or achievements to be materially
different from those expressed or implied by forward-looking
statements. Such assumptions include, but are not limited to, the
assumptions that IsoEnergy and Stifel will complete the Offering in
accordance with terms and conditions of the relevant agreements;
that the Company will receive the required regulatory and other
approvals related to the Offering; that the Company will satisfy,
in a timely manner, any conditions precedent to completion of the
Offering; the price of uranium; and that general business and
economic conditions will not change in a materially adverse manner.
Although IsoEnergy has attempted to identify important factors that
could cause actual results to differ materially from those
contained in 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 such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information.
Such statements represent the current views of IsoEnergy with
respect to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by
IsoEnergy, are inherently subject to significant business,
economic, competitive, political and social risks, contingencies
and uncertainties. Risks and uncertainties include, but are not
limited to the following: a material adverse change in the timing
of and the terms and conditions upon which the Offering is
completed; the inability to satisfy or waive all conditions to
completion of the Offering; the failure to obtain regulatory
approvals in connection with the Offering; regulatory
determinations and delays; stock market conditions generally;
demand, supply and pricing for uranium; and general economic and
political conditions in Canada,
the United States and other
jurisdictions where the applicable party conducts business. Other
factors which could materially affect such forward-looking
information are described in the risk factors in IsoEnergy's most
recent annual management's discussion and analysis or annual
information form and IsoEnergy's other filings with the Canadian
securities regulators which are available under
the Company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy does
not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE IsoEnergy Ltd.
