IsoEnergy announces closing of $18.3 Million financing

IsoEnergy brings 20 projects in the Athabasca basin of northern Saskatchewan to its takeover of Consolidated Uranium. Credit: IsoEnergy

IsoEnergy (TSXV: ISO) has officially closed its previously announced $18.3 million financing.

The closing includes $6 million raised through the issuance of 1.8 million common shares to NexGen Energy (TSX: NXE) at a price of $3.33 per share. As well, approximately $5.3 million raised through the issuance of an unsecured convertible debenture to Queen’s Road Capital Investment (TSX: QRC). An additional $5 million raised through the issuance of 940,000 charity flow-through common shares at a price of $5.35 per share, to a syndicate of underwriters led by PI Financial, and $2 million raised through the issuance of 600,000 non- flow-through common shares to the underwriters, at a price of $3.33 per share.

IsoEnergy now has cash reserves of approximately $20.7 million. Proceeds from the financing will be used for exploration and development of the company’s properties in the Athabasca Basin, Saskatchewan, potential future acquisitions, and for general corporate purposes.

Larocque East is 100% owned by IsoEnergy and is located in the Eastern Athabasca Basin. Discovered in 2018 on the Larocque East property, the Hurricane zone is a recent discovery of high-grade uranium. 

Pursuant to applicable securities laws, all securities issued in connection with the financing have a four-month hold period expiring on April 7, 2023.

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