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IsoEnergy Closes Bought Deal Private Placement of FT Shares for C$3.50 Million and Announces Increase to Non-Brokered Portion of the Private Placement
IsoEnergy Closes Bought Deal Private Placement of FT Shares for C$3.50 Million and Announc...
About this update from Isoenergy Ltd.
[{"type":"text","content":"\n\n\n\nIsoEnergy Closes Bought Deal Private Placement of FT Shares for C$3.50 Million and Announces Increase to Non-Brokered Portion of the Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 3, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, Dec. 3, 2019 /CNW/ - IsoEnergy Ltd. (TSX.V: ISO) (\"IsoEnergy\" or the \"Company\") is pleased to announce that the Company has closed its previously announced bought deal private placement pursuant to an agreement with PI Financial Corp. (the \"Underwriter\") for gross proceeds of approximately C$3.50 million (the \"Offering\" or the \"Brokered Financing\"). The Company also announces that, due to investor demand, the Company is increasing the size of its non-brokered private placement (the \"Non-Brokered Financing\") previously announced on November 12, 2019.  \n\n \n \n\n \nBrokered Financing\nUnder the terms of the Offering, the Company issued 7,778,000 flow-through common shares of the Company (the \"FT Shares\") at a price of C$0.45 per FT Share for gross proceeds of C$3,500,100. \nThe gross proceeds from the sale of the FT Shares will be used to incur \"Canadian exploration expenses\" (as such term is defined in the Income Tax Act (Canada)) (the \"Qualifying Expenditures\"). The Qualifying Expenditures will be renounced to the subscribers of FT Shares with an effective date no later than December 31, 2019, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of the FT Shares.\nIn consideration for its services, the Underwriter received a cash commission equal to 6.0% of the gross proceeds of the Brokered Financing and 466,680 broker warrants, with each such broker warrant entitling the holder to purchase one common share of the Company at a price of C$0.45 per common share for a period of 24 months from the date of issuance.\nNon-Brokered Financing\nThe Company originally planned to raise gross proceeds of $2.65 million pursuant...