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IsoEnergy to Option Mountain Lake Uranium Property to NxGold
IsoEnergy to Option Mountain Lake Uranium Property to NxGold Canada NewsWire VAN...
About this update from Isoenergy Ltd.
[{"type":"text","content":"\n\n\n\nIsoEnergy to Option Mountain Lake Uranium Property to NxGold\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 16, 2020\n\n\n\nVANCOUVER, BC, July 16, 2020 /CNW/ - IsoEnergy Ltd. (\"IsoEnergy\" or the \"Company\") (TSXV: ISO) (OTCQX: ISENF) is pleased to announce that it has entered into an agreement with NxGold Ltd. (TSXV: NXN) (\"NxGold\") to grant NxGold the option to acquire a 100% interest in IsoEnergy's Mountain Lake uranium property in Nunavut, Canada (\"Option Agreement\").\n\n \n \n \n \n \n \n\n \nHighlights:\nNxGold obtains a two-year option to acquire a 100% interest in the Mountain Lake uranium property. As consideration for the option grant, IsoEnergy will receive 900,000 common shares of NxGold and $20,000 in cash. NxGold may exercise the option and acquire the Mountain Lake property for a price of $1 million, payable in cash or shares. The purchase of the Mountain Lake property is also subject to contingent payments of up to $1.8 million, payable in cash or shares.Craig Parry, IsoEnergy's President and CEO commented: \"The Mountain Lake property and deposit was staked by IsoEnergy in 2017 as a direct result of our team leveraging their knowledge and experience in the uranium sector to identify and acquire undervalued uranium assets. This option agreement with NxGold demonstrates that our strategy of low-cost acquisitions during a depressed uranium market with the goal of future divestment has begun to pay dividends.  We welcome the opportunity to work with a great company like NxGold and be a part of their future success.  This is a great outcome for all shareholders.\"\nTerms of the Option Agreement\nUnder the terms of the Option Agreement, NxGold has the option to acquire a 100% interest in the Mountain Lake uranium property in consideration for the issuance of 900,000 common shares and payment of $20,000 cash to IsoEnergy. The option is exercisable at NxGold's election on or before the second anniversary of the effective date, for additional consideration of $1,000,000, payable in cash or shares of...