IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) is pleased to announce that it has closed its previously announced bought deal financing, pursuant to which the Company sold 5,121,500 common shares of the Company at a price of C$10.00 per Common Share for gross proceeds of C$51,215,000, which includes the partial exercise of the over-allotment option. The Offering was conducted by a syndicate of underwriters, led by Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp.

The proceeds from the Offering are expected to be used to fund the continued development and further exploration of the Company’s mineral properties, and for general corporate purposes.

NexGen Energy Ltd., an existing insider of the Company, purchased 1,200,000 Common Shares in the Offering at the Offering Price. After giving effect to the Offering, NexGen is expected to own approximately 30.9% of the issued and outstanding Common Shares. No commission or other fee is payable to the Underwriters in connection with the sale of Common Shares to NexGen.

NexGen’s participation in the Offering constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is exempt from the requirement to obtain a formal valuation or minority shareholder approval in connection with the Offering under MI 61-101 in reliance on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 due to the fair market value of the Offering being below 25% of the Company’s market capitalization for purposes of MI 61-101. The Company was not able to file a material change report 21 days prior to the closing date of the Offering as a result of the closing date. The Offering was approved by the board of directors of the Company with each of Messrs. Curyer, Patricio and McFadden having disclosed his interest in the Offering and abstaining from voting in respect thereof. The Company has not received, nor has it requested a valuation of its securities or the subject matter of the Offering in the 24 months prior to the date hereof.

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 state in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act, and applicable state securities laws. 

About IsoEnergy Ltd. 

IsoEnergy (NYSE American: ISOU) (TSX: ISO) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near-, medium- and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East project in Canada’s Athabasca basin, which is home to the Hurricane deposit, boasting the world’s highest-grade indicated uranium mineral resource. IsoEnergy also holds a portfolio of permitted past-producing, conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.