IsoEnergy Ltd (Pre-Reincorporation) (ISOU) News & EventsISOUNews & EventsIsoEnergy Ltd (Pre-Reincorporation)

IsoEnergy Signs Exploration Agreement with Kineepik Metis

IsoEnergy announced that it has entered into an Exploration Agreement with Kineepik Metis Local. Kineepik represents Metis rights holders who live within the Kineepik Use and Occupancy Area, including members and residents of Pinehouse, Saskatchewan. The Exploration Agreement establishes a framework for ongoing engagement, information sharing and collaboration as IsoEnergy advances exploration in the area. The Agreement also provides for Kineepik community members and businesses to participate in exploration activities through business, employment and training opportunities. The Northern Village of Pinehouse is located within the traditional land and occupancy area of the Indigenous people of Kineepik Metis Local.

UraniumX Completes Acquisition of Dieter Lake Uranium Project

UraniumX Discovery completed its previously announced acquisition of a 100% interest in the Dieter Lake uranium project in North-Central Quebec from Consolidated Uranium, a wholly owned subsidiary of IsoEnergy pursuant to the definitive asset purchase agreement dated July 8 announced on July 10. With closing, UraniumX holds uranium projects in two Canadian jurisdictions: Saskatchewan and Quebec. IsoEnergy becomes a strategic shareholder. Consolidated Uranium now holds 18,000,000 common shares of UraniumX, representing approximately 15.2% of the issued and outstanding common shares on a non-diluted basis, with the right to nominate one director and with participation and top-up rights under an investor rights agreement entered into at closing. IsoEnergy, indirectly through Consolidated Uranium, is now an insider of the Company. A 24.4-million-pound historical estimate, acquired for no cash. Dieter Lake hosts a historical estimate of 19.3 million tonnes at an average grade of 0.057% U3O8, containing approximately 24.4 million lbs U3O8. The consideration consists entirely of shares, and a 2.0% net smelter returns royalty; no cash was payable and no finder's fees were paid. A second Canadian uranium jurisdiction. Dieter Lake adds 168 claims over approximately 8,106 hectares in North-Central Quebec, alongside the Company's Athabasca Basin ground in Saskatchewan. Mineralization is traced over approximately 6 km of strike, open to the southwest, and the majority of the Property has seen little or no modern drilling. In consideration for the Property, the Company issued 18,000,000 Consideration Shares at a deemed price of $0.10 per share and granted Consolidated Uranium a 2.0% net smelter returns royalty on all production from the Property. No cash consideration was payable and no finder's fees were paid in connection with the Transaction. The Consideration Shares are subject to a statutory hold period of four months and one day from the date of issue and to a voluntary lock-up releasing 25% of the Consideration Shares on each of the four, eight, twelve and sixteen month anniversaries of closing. Under the investor rights agreement entered into at closing, Consolidated Uranium has the right to nominate one director to the UraniumX board for so long as it maintains a 5.0% partially diluted ownership interest, together with a participation right in future equity issuances and top-up rights to maintain its pro rata ownership, on customary terms.

IsoEnergy Enters Agreement to Form DISA Uranium Corporation

IsoEnergy has entered into a definitive agreement with DISA Technologies to create DISA Uranium Corporation, a new technology-enabled U.S. uranium company positioned to strengthen domestic uranium supply and support the growing demand for secure, U.S.-sourced nuclear fuel. Pursuant to the definitive agreement, IsoEnergy will contribute its portfolio of permitted, past-producing conventional uranium mines in Utah to DISA Uranium, in exchange for 1,677,350 shares of common stock of the company. DISA Uranium will combine IsoEnergy's Utah Portfolio with DISA's proprietary High-Pressure Slurry Ablation processing technology and remediation and recovery business. In connection with the Transaction, DISA Uranium has received commitments for a concurrent $105M private placement financing supported by a consortium of mining, energy, and technology investors. IsoEnergy has agreed to participate in the financing in the amount of $33M. Proceeds from the financing are anticipated to be used to advance DISA Uranium's conventional mine development, fund remediation and recovery programs, progress domestic uranium milling infrastructure, and support the company's long-term growth. Based on the financing commitments received, DISA Uranium's implied pro forma fully diluted equity value would be approximately $505M. IsoEnergy will own approximately 33% of the company's issued and outstanding shares on a fully diluted basis and will be DISA Uranium's single largest shareholder.