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IsoEnergy to Settle Portion of Interest Payment in Shares and Receives Shareholder and TSXV Approval of Consolidated Uranium Option to Acquire Mountain Lake Property
IsoEnergy to Settle Portion of Interest Payment in Shares and Receives Shareholder and TS...
About this update from Isoenergy Ltd.
[{"type":"text","content":"\n \n \n \n IsoEnergy to Settle Portion of Interest Payment in Shares and Receives Shareholder and TSXV Approval of Consolidated Uranium Option to Acquire Mountain Lake Property\n \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 Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 29, 2021\n \n /CNW/ - IsoEnergy Ltd. (\"\n \n IsoEnergy\n \n \" or the \"\n \n Company\n \n \") (TSXV: ISO) (OTCQX: ISENF) has agreed to settle a portion of the interest payment due to Queen's Road Capital Investment Ltd. (\"\n \n QRC\n \n \") (TSXV: QRC) as at\n \n December 31, 2021\n \n . Pursuant to the unsecured convertible debenture dated\n \n August 18, 2020\n \n between QRC and the Company (the \"\n \n Debenture\n \n \"), as at\n \n December 31, 2021\n \n , the Company will owe QRC interest in the amount of\n \n US$255,000\n \n of which\n \n US$75,000\n \n will be settled with the issuance of 23,076 common shares of the Company (\"\n \n Shares\n \n \"), at a deemed price of\n \n US$3.25\n \n .\n \n \n \n \n \n \n \n \n \n Under the terms of the Debenture, the portion of the interest payable to QRC equal to 2.5% per annum is payable in Shares at a price per Share equal to the volume-weighted average trading price per Share on the TSX Venture Exchange (\"\n \n TSXV\n \n \") for the twenty consecutive trading days ending 3 trading days prior to the date such interest is due. The portion of the interest payable to QRC equal to 6.0% per annum is payable in cash. The issuance of the Shares to QRC is subject to TSXV acceptance.\n \n \n \n Mountain Lake Uranium Property\n \n \n \n IsoEnergy also announces that it has received shareholder and TSXV approval for its\n \n July 2020\n \n agreement with Consolidated Uranium Inc. (TSXV: CUR) (\"CUR\") (Formerly International Consolidated Uranium and NxGold Ltd.) to grant CUR the option to acquire a 100% interest in IsoEnergy's Mountain Lake uranium property in\n \n Nunavut, Canada\n \n (\"Option Agreement\"). For further details regarding the Option Agreement please refer to the Company's\n \n July 16, 2020\n \n press...