IsoEnergy Completes C$23mn Bought Deal Private Placement

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(IsoEnergy, 9.Feb.2024) — IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) closed its previously announced “bought deal” brokered private placement announced on 18 Jan. 2024, pursuant to which the company sold 3,680,000 federal flow-through common shares of the company (the “Premium FT Shares“) at an offer price of C$6.25 per Premium FT Share, for aggregate gross proceeds of C$23,000,000 (the “Offering“), which includes the full exercise of the Underwriters’ over-allotment option. The Offering was conducted by a syndicate of underwriters, co-led by Eight Capital and Haywood Securities Inc., as joint bookrunners, and including Canaccord Genuity Corp., PI Financial Corp., Red Cloud Securities Inc. and TD Securities Inc.  

The proceeds from the issuance of the Premium FT Shares are expected to be used to incur eligible “Canadian exploration expenses” (“CEE”) as defined in the Income Tax Act (Canada) (the “ITA”) that will qualify as “flow-through critical mineral mining expenditures” as defined in the ITA, after the closing date and on or prior to 31 Dec. 2025 in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of Premium FT Shares. IsoEnergy will renounce the CEE (on a pro rata basis) to the applicable subscriber of Premium FT Shares with an effective date of no later than December 31, 2024, in accordance with the ITA. The proceeds from the Offering are expected to be used for exploration of the company’s Athabasca Basin Portfolio, including the Larocque East Project and Hawk Project, and for exploration of the company’s Quebec properties.

The Premium FT Shares issued pursuant to the Offering are subject to a hold period of four months and one day under applicable Canadian securities laws.

In connection with the Offering, the Underwriters received a cash fee in an amount representing 6.0% of the gross proceeds of the Offering.

None of the securities to be issued pursuant to the Offering have been or will be registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Corporate Update

IsoEnergy is also pleased to announce that it has engaged Momentum IR Corp., a Toronto-based investor relations and corporate communications firm. Momentum was previously engaged by Consolidated Uranium Inc., a wholly-owned subsidiary of the company, and will continue to provide IsoEnergy with investor relations and advisory services.

The initial term of the engagement is for 12 months with a monthly retainer of $12,000 per month. IsoEnergy also issued 37,500 stock options to Momentum on December 29, 2023, each of which entitles Momentum to acquire one common share of the company at a price of C$3.55 for a period of five years. To the knowledge of the company, Momentum and/or its affiliates currently hold 1,250 common shares of the Company and 114,750 stock options; however, Momentum may from time to time acquire or dispose of securities of the company through the market, privately or otherwise, as circumstances or market conditions warrant. Momentum is at arm’s length to IsoEnergy and has no other relationship with IsoEnergy, except pursuant to the engagement. The agreement and the grant of the stock options is subject to the approval of the TSX Venture Exchange.


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