IsoEnergy Ltd. (TSX-V: ISO) (OTCQX: ISENF) is pleased to announce the closing of its previously announced flow through and non-flow through non-brokered private placements. The Company has issued 1,675,000 flow-through units at $0.54 per FT Unit and 3,095,520 non flow-through units at $0.40 per Unit raising aggregate gross proceeds of $2,154,708. Each FT Unit consists of one flow-through common share and one-half of a share purchase warrant with each Warrant entitling the holder to purchase an additional common share for a period of three years at an exercise price of $0.60. Each Unit consists of one non-flow through common share and one-half of a Warrant.
With respect to the private placements, the Company has paid finders’ fees in the amount of 6%, based on the sale of the FT Units and Units purchased by subscribers introduced to the Company by such finders.
The proceeds from the flow-through private placement will be used for the continuation of exploration activities on the Company’s projects in the Athabasca Basin, Saskatchewan. The proceeds from the non flow-through private placement will be used both for exploration on the Company’s projects and for general corporate purposes.
The offering is subject to final approval of the TSX Venture Exchange, which is subject to filing final customary documentation. All securities issued in connection with the private placements are subject to a statutory hold period of four months plus a day expiring August 20, 2018 in accordance with applicable securities legislation.
IsoEnergy Ltd. is a well-funded uranium exploration and development company with a portfolio of prospective projects in the eastern Athabasca Basin in Saskatchewan, Canada, plus a historical uranium mineral resource at the Mountain Lake property in Nunavut. 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.
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We acknowledge the [financial] support of the Government of Canada.