INTERNATIONAL ISOTOPES INC. ANNOUNCES COMPLETION OF A MODIFICATION TO EXTEND THE MATURITY DATE OF ITS SERIES C PREFERRED STOCK

Rhea-AI Summary

International Isotopes Inc. (OTCQB: INIS) announced a one-year extension of the maturity date for its Series C Preferred stock to February 28, 2023. This modification, approved by a majority of Series C Preferred stockholders, aims to facilitate the execution of several near-term business development initiatives. CEO Steve Laflin expressed gratitude to stockholders for their approval, emphasizing the extension's role in optimizing cash reserves for upcoming opportunities.

Positive

• Extension of maturity date allows better use of cash reserves.
• Approval received from majority of Series C stockholders.

Negative

• No immediate financial metrics indicating revenue growth or profitability.
• -

IDAHO FALLS, Idaho, Feb. 17, 2022 /PRNewswire/ -- International Isotopes Inc. (OTCQB: INIS) ("International Isotopes" or "INIS") has announced the completion of a modification to the term of its Series C Preferred stock.  The modification extends the maturity date of the Series C Preferred for one year to February 28, 2023.  All other terms in the Series C Preferred stock remain unchanged.

The modification to extend the maturity date of the Series C Preferred stock was completed by obtaining approval from a majority of the Series C Preferred stockholders.  INIS requested the extension to allow the Company to execute several of the Company's near-term business development initiatives.

Steve Laflin, CEO of INIS commented, "We wish to extend our appreciation to our Series C Preferred stockholders for approving this modification to extend the maturity date of our Series C Preferred stock.  The Company has several near-term new business development initiatives, and this modification allows us to make better use of cash reserves to address those opportunities."

About International Isotopes Inc.
International Isotopes Inc. supplies sodium iodide I-131 as an FDA approved generic drug product and manufactures a full range of nuclear medicine calibration and reference standards.  The Company also provides cobalt-60 products for medical and industrial applications.

International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to the Company's future growth expectations.  Information contained in such forward-looking statements is based on current expectations and is subject to change.  These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements.  Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2020.  Investors, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.  The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

FOR MORE INFORMATION, CONTACT:

David Drewitz
Creative Options Communications
Investor and Public Relations
david@creativeoptionscommunications.com
www.creativeoptionsmaketing.com
Phone:  972-814-5723

 

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SOURCE International Isotopes Inc.

FAQ

What is the new maturity date for International Isotopes' Series C Preferred stock?

The new maturity date is February 28, 2023.

Why did International Isotopes extend the maturity date of its Series C Preferred stock?

The extension allows the company to execute several near-term business development initiatives.

How did stockholders respond to the Series C Preferred stock modification?

A majority of Series C Preferred stockholders approved the modification.

What is the stock symbol for International Isotopes?

The stock symbol for International Isotopes is INIS.

What does International Isotopes Inc. primarily supply?

International Isotopes supplies sodium iodide I-131 as an FDA approved generic drug product and manufactures nuclear medicine calibration standards.