IsoEnergy Ltd. ("IsoEnergy") (TSXV: ISO) (OTCQX: ISENF) is pleased to announce that it has closed its previously announced "bought deal" brokered private placement announced on January 18, 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. (collectively, the "Underwriters").
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 December 31, 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.
