SASKATOON, SK, June 28,
2022 /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, 2022 in Common Shares. Pursuant to the
unsecured convertible debenture dated August
18, 2020 between QRC and the Company (the "Debenture"), as
at June 30, 2022, the Company will
owe QRC interest in the amount of US$255,000 of which US$74,999.32 will be settled with the issuance of
29,644 common shares of the Company ("Shares"), at a deemed price
of US$2.53.
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.
Neither the TSX Venture Exchange nor its Regulations 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.