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FOR DISSEMINATION IN THE UNITED
STATES./
SASKATOON, SK and TORONTO, Sept. 29,
2023 /CNW/ - IsoEnergy Ltd.
("IsoEnergy") (TSXV: ISO) (OTCQX: ISENF) is pleased to
announce that as a result of strong investor demand, the Company
has amended its agreement with a syndicate of agents led by
Canaccord Genuity Corp., TD Securities Inc. and Eight Capital, and
including Haywood Securities Inc., Red Cloud Securities, Cormark
Securities Inc., Paradigm Capital, PI Financial Corp., Raymond
James Ltd. and SCP Resource Finance LP (collectively, the
"Agents"), to increase the size of the previously announced
"best efforts" private placement of subscription receipts to raise
gross proceeds of up to $35,100,000
(the "Offering"), consisting of up to 7,800,000 subscription
receipts of the Company (the "Subscription Receipts") at a
price of $4.50 per Subscription
Receipt (the "Offering Price"). This upsizing of the
Offering is being led by Sachem Cove, a key shareholder, investor
and leader in the uranium sector, adding to the strong
participation already received from cornerstone
investors NexGen Energy Ltd., Mega Uranium Ltd. and Energy Fuels
Inc..
The Agents will have an option (the "Agents' Option") to
further increase the size of the Offering by up to $5,265,000 through the sale of 1,170,000
additional Subscription Receipts at the Offering Price, which
Agents' Option is exercisable, in whole or in part, at any time up
to 48 hours prior to closing of the Offering.
The net proceeds of the Offering will be used to advance
exploration and development of the Company's uranium assets, as
well as for working capital and general corporate purposes.
The Offering is expected to close on or about October 19, 2023, with the gross proceeds of the
Offering to be held in escrow pending the satisfaction of the
escrow release conditions, including the satisfaction of the
conditions to the closing of the Company's planned business
combination with Consolidated Uranium Inc., and certain other
customary conditions.
The Subscription Receipts will be offered by way of private
placement pursuant to applicable exemptions from prospectus
requirements in each of the provinces of Canada and in such other jurisdictions as may
be mutually agreed between the Company and the Agents. The
securities issued under the Offering will be subject to a four
month hold period under applicable Canadian securities laws.
The securities to be offered pursuant to the Offering have not
been, and will not be, registered under the U.S. Securities Act of
1933, as amended (the "U.S. Securities Act") or any U.S.
state securities laws, and may not be offered or sold in
the United States or to, or for
the account or benefit of, United
States persons absent registration or any applicable
exemption from the registration requirements of the U.S. Securities
Act and applicable U.S. state securities laws.
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 jurisdiction in which such offer, solicitation or
sale would be unlawful.
Qualified Person
Statement
The scientific and technical information contained in this news
release with respect to IsoEnergy was prepared by Dr Darryl Clark, P.Geo., IsoEnergy Vice President,
Exploration, who is a "Qualified Person" (as defined in NI 43-101
– Standards of Disclosure for Mineral Projects). Dr Clark has
verified the data disclosed. For additional information regarding
the Company's Larocque East Project, including its quality
assurance, quality control procedures and other details of the
mineral resource estimate contained herein, please see the
Technical Report dated effective July 8,
2022, on the Company's profile at www.sedarplus.ca.
About IsoEnergy
IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) is a well-funded
uranium exploration and development company with a portfolio of
prospective projects in the infrastructure-rich eastern
Athabasca Basin in Saskatchewan, Canada. In 2018, IsoEnergy
discovered the high-grade Hurricane Deposit on its 100% owned
Larocque East property in the eastern Athabasca Basin. The Hurricane Deposit has
indicated mineral resources of 48.61
M lbs U3O8 based on 63,800 tonnes grading 34.5% U3O8 and
inferred mineral resources of 2.66 M
lbs U3O8 based on 54,300 tonnes grading 2.2% U3O8 (July 8, 2022). The Hurricane Deposit is 100%
owned by IsoEnergy and is unencumbered from any royalties.
IsoEnergy is led by a board and management team with a track record
of success in uranium exploration, development, and operations.
IsoEnergy 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.
Forward-Looking
Information
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, planned
exploration activities, the expected closing date of the Offering
and the anticipated use of proceeds of the Offering. Generally, but
not always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof 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" or the negative
connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the price of
uranium, the anticipated cost of planned exploration activities,
that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and
when needed and on reasonable terms, that third party contractors,
equipment and supplies and governmental and other approvals
required to conduct the Company's planned exploration activities
will be available on reasonable terms and in a timely manner.
Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve
known and unknown risks and uncertainties and other factors, which
may cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large
shareholder, alternative sources of energy and uranium
prices, aboriginal title and consultation issues, reliance on key
management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration
programs based upon results, availability of third party
contractors, availability of equipment and supplies, failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry, environmental risks, changes in laws
and regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in the forward-looking information
or implied by 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 forward-looking
information and statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on forward-looking statements or
information. The Company undertakes no obligation to update
or reissue forward-looking information as a result of new
information or events except as required by applicable securities
laws.
SOURCE IsoEnergy Ltd.