Business
IsoEnergy Announces $15.3 Million Financing Package
SASKATOON, Saskatchewan, Nov. 16, 2022 (GLOBE NEWSWIRE) -- IsoEnergy Ltd. (TSX-V: ISO) (OTCQX: ISENF) (“IsoEnergy” or the “Company”) is pleased to announce that
About this update from Isoenergy Ltd.
[{"type":"text","content":" SASKATOON, Saskatchewan, Nov. 16, 2022 (GLOBE NEWSWIRE) -- IsoEnergy Ltd. (TSX-V: ISO) (OTCQX: ISENF) (“IsoEnergy” or the “Company”) is pleased to announce that it has reached agreements for a $15.3 million funding package, consisting of a $5 million non-brokered private placement of common shares, a concurrent private placement of $5.3 million in convertible debentures, and a $5 million “bought deal” private placement of charitable “flow-through” shares. The Company will be undertaking a C$5 million non-brokered private placement (the “Private Placement”), pursuant to which approximately 1,500,000 common shares will be issued at a price of C$3.33 per share (the “Private Placement Price”) to NexGen Energy Ltd. (“NexGen”) (TSX: NXE). The Company has also entered into a binding term sheet with Queen’s Road Capital Investment Ltd. (“QRC”) for a US$4 million (approximately C$5.3 million) private placement (the “Debenture Financing”) of unsecured convertible debentures (the “Debentures”). In addition, the Company has entered into an agreement with PI Financial Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 940,000 common shares of the Company, each to be issued as a charitable \"flow-through share\" within the meaning of the Income Tax Act (Canada) (each, a \"FT Share\") at a price of C$5.35 per FT Share (the “FT Price”) for gross proceeds of C$5 million (the “FT Offering” and, together with the Debenture Financing and the Private Placement, the “Offerings”). Tim Gabruch, President & Chief Executive Officer of IsoEnergy commented: “We are very pleased that our majority shareholder, NexGen Energy, and our strategic investor, Queen’s Road Capital, have agreed to make further investments in IsoEnergy. NexGen has supported multiple aspects of IsoEnergy’s growth and development since our 2016 inception, and Warren Gilman and the Queen’s Road team have been strong partners and highly supportive of IsoEnergy’s activities in the Athabasca Basin as we have advanced our exploration properties and progressed the world-class Hurricane deposit. We welcome NexGen and QRC’s continued involvement, which demonstrates their ongoing confidence in our asset base and strategic approach. We are also pleased with ...