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IsoEnergy Closes US$6 Million Financing with Queen's Road Capital
IsoEnergy Closes US$6 Million Financing with Queen's Road Capital Canada NewsWire ...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"\n\n\n\nIsoEnergy Closes US$6 Million Financing with Queen's Road Capital\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, Aug. 19, 2020\n\n\n\nVANCOUVER, BC, Aug. 19, 2020 /CNW/ - IsoEnergy Ltd. (\"IsoEnergy\" or the \"Company\") (TSXV: ISO) (OTCQX: ISENF) is pleased to announce that it has closed the previously announced US$6 million private placement of an unsecured convertible debenture (the \"Debenture\") with Queen's Road Capital Investment Ltd. (\"QRC\") (TSXV: QRC).  \n\n \n \n \n \n \n \n\n \nCraig Parry, IsoEnergy's Chief Executive Officer, commented: \"It is with great pleasure that we welcome Queen's Road Capital as a strategic investor of IsoEnergy and we look forward to working with Warren Gilman and his team as we continue with advanced exploration and resource delineation at Hurricane.  Summer drilling at Hurricane is scheduled to commence very soon, and the Company is now fully funded with over C$14.5 million in the treasury.\"\nThe Debenture will be convertible at the holder's option at a conversion price of C$0.88 into a maximum of 9,206,311 common shares of the Company (with the exact number of common shares to be issued to be based on the exchange rate at the time of conversion). \nThe Company will be entitled, on or after the third anniversary of the date of issuance of the Debenture, at any time the 20-day VWAP on the TSX Venture Exchange (the \"TSXV\") exceeds 130% of the Conversion Price, to redeem the Debenture at par plus accrued and unpaid Interest.\nThe Debenture will carry an 8.5% coupon (the \"Interest\") over a 5-year term and will be convertible at the holder's option into common shares of the Company at a conversion price of C$0.88, which price will be converted to USD at the time of conversion (the \"Conversion Price\").  The Interest is payable semi-annually with 6% payable in cash and 2.5% payable in common shares of the Company, subject to TSXV approval, at a price equal to the market price of the Company's common shares on the TSXV on the day prior to the date such Interest i...