VANCOUVER, BC, June 28, 2021 /CNW/ - IsoEnergy Ltd.
("IsoEnergy" or the "Company") (TSXV: ISO) (OTCQX:
ISENF) has agreed to settle a portion of the interest payment due
to Queen's Road Capital Investment Ltd. ("QRC") (TSXV: QRC)
as at June 30, 2021. Pursuant to the
unsecured convertible debenture dated August
18, 2020 between QRC and the Company (the
"Debenture"), as at June 30,
2021, the Company will owe QRC interest in the amount of
US$255,000 of which US$75,000 will be settled with the issuance of
31,120 common shares of the Company ("Shares"), at a deemed
price of US$2.41.
Under the terms of the Debenture, the portion of the interest
payable to QRC equal to 2.5% per annum is payable in Shares at a
price per Share equal to the volume-weighted average trading price
per Share on the TSX Venture Exchange ("TSXV") for the
twenty consecutive trading days ending 3 trading days prior to the
date such interest is due. The portion of the interest payable to
QRC equal to 6.0% per annum is payable in cash. The issuance
of the Shares to QRC is subject to TSXV acceptance.
About IsoEnergy
IsoEnergy is a well-funded 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% owned Larocque East property in the
Eastern Athabasca Basin. IsoEnergy is led by a Board and
Management team with a track 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.
Tim Gabruch
Chief Executive
Officer
IsoEnergy Ltd.
+1 778 379
3211
info@isoenergy.ca
www.isoenergy.ca
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE IsoEnergy Ltd.