SASKATOON, SK and TORONTO, June 28,
2024 /CNW/ - IsoEnergy Ltd. ("IsoEnergy" or the
"Company") (TSXV: ISO) (OTCQX: ISENF) has agreed to settle a
portion of the interest payments due to Queen's Road Capital
Investment Ltd. ("QRC") (TSXV: QRC) as at June 30, 2024 in common shares of the Company
("Shares").
Pursuant to the unsecured convertible debenture dated
August 18, 2020, between QRC and the
Company (the "2020 QRC Debenture"), as at June 30, 2024, the Company will owe QRC interest
in the amount of US$255,000, of which
US$74,998.56 will be settled with the
issuance of 24,752 Shares at a deemed price of US$3.03 per Share. Pursuant to the unsecured
convertible debenture dated December 6,
2022 between QRC and the Company (the "2022 QRC
Debenture"), as at June 30, 2024,
the Company will owe QRC interest in the amount of US$200,000, of which US$49,998.03 will be settled with the issuance of
16,501 Shares at a deemed price of US$3.03 per Share.
Under the terms of both the 2020 QRC Debenture and the 2022 QRC
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 ("TSXV") for the 20 consecutive trading days ending
three trading days prior to the date such interest is due. The
portion of the interest payable to QRC on the 2020 QRC Debenture
and the 2022 QRC Debenture equal to 6.0% and 7.5% per annum,
respectively, is payable in cash. The issuance of the Shares
to QRC is subject to TSXV approval.
About IsoEnergy
IsoEnergy Ltd. (TSXV: ISO) (OTCQX: ISENF) is a leading, globally
diversified uranium company with substantial current and historical
mineral resources in top uranium mining jurisdictions of
Canada, the U.S., Australia, and Argentina at varying stages of development,
providing near, medium, and long-term leverage to rising uranium
prices. IsoEnergy is currently advancing its Larocque East Project
in Canada's Athabasca Basin, which is home to the
Hurricane deposit, boasting the world's highest grade Indicated
uranium Mineral Resource.
IsoEnergy also holds a portfolio of permitted, past-producing
conventional uranium and vanadium mines in Utah with a toll milling arrangement in place
with Energy Fuels Inc. These mines are currently on stand-by, ready
for rapid restart as market conditions permit, positioning
IsoEnergy as a near-term uranium producer.
Neither the TSX Venture Exchange nor its Regulations Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, the TSXV's
approval of the issuance of Shares to QRC; and other
activities, events or developments that the Company expects or
anticipates will or may occur in the future. Generally, but
not always, forward-looking information and statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or the negative connotation
thereof or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved" or the negative
connotation thereof.
Such forward-looking information and statements are based on
numerous assumptions, including among others, receipt of TSXV
approval. Although the assumptions made by the Company in providing
forward-looking information or making forward-looking statements
are considered reasonable by management at the time, there can be
no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: the failure to obtain final
TSX approval for the issuance of the Shares to QRC and other risk
factors with respect to the Company set out in the Company's
filings with the Canadian securities regulators and available under
IsoEnergy's profile on SEDAR+ at www.sedarplus.ca.
Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
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SOURCE IsoEnergy Ltd.