IsoEnergy Announces Filing and Mailing of the Management Information Circular in Connection with its Special Meeting of Shareholders to Approve the Acquisition of Anfield
IsoEnergy announces the filing and mailing of management information circular for a special meeting regarding its acquisition of Anfield Energy. The arrangement will make Anfield a wholly-owned subsidiary of IsoEnergy, with former IsoEnergy shareholders owning approximately 83.8% and Anfield shareholders 16.2% of the combined entity. The meeting, scheduled for December 3, 2024, will vote on share issuance and potential share consolidation resolutions. Key strategic benefits include expansion of U.S. uranium production capacity, ownership of Shootaring Canyon Mill, operational synergies, and enhanced capital markets profile. The Board unanimously recommends shareholders vote in favor of both resolutions.
IsoEnergy annuncia la registrazione e l'invio del circolare d'informazione per la gestione di un'assemblea speciale riguardante l'acquisizione di Anfield Energy. L'accordo renderà Anfield una filiale interamente posseduta da IsoEnergy, con i precedenti azionisti di IsoEnergy che possiederanno circa l'83,8% e gli azionisti di Anfield il 16,2% dell'entità combinata. L'assemblea, programmata per il 3 dicembre 2024, voterà sull'emissione di azioni e sulle potenziali risoluzioni di consolidamento delle azioni. I principali vantaggi strategici includono l'espansione della capacità produttiva di uranio negli Stati Uniti, la proprietà del molino di Shootaring Canyon, sinergie operative e un profilo di mercato dei capitali migliorato. Il Consiglio raccomanda all'unanimità agli azionisti di votare a favore di entrambe le risoluzioni.
IsoEnergy anuncia la presentación y el envío del circular de información para la gestión de una reunión especial sobre su adquisición de Anfield Energy. El acuerdo convertirá a Anfield en una subsidiaria totalmente propiedad de IsoEnergy, con los antiguos accionistas de IsoEnergy poseyendo aproximadamente el 83,8% y los accionistas de Anfield el 16,2% de la entidad combinada. La reunión, programada para el 3 de diciembre de 2024, votará sobre la emisión de acciones y las posibles resoluciones de consolidación de acciones. Los principales beneficios estratégicos incluyen la expansión de la capacidad de producción de uranio en EE. UU., la propiedad del molino de Shootaring Canyon, sinergias operativas y un perfil mejorado en los mercados de capitales. La Junta recomienda unánimemente a los accionistas que voten a favor de ambas resoluciones.
IsoEnergy는 Anfield Energy의 인수와 관련한 특별 회의의 관리 정보 서한을 제출하고 발송했습니다. 이 합의는 Anfield를 IsoEnergy의 전액 출자 자회사로 만들며, 이전 IsoEnergy 주주가 결합된 기업의 약 83.8%를 소유하고 Anfield 주주가 16.2%를 소유하게 됩니다. 2024년 12월 3일로 예정된 회의에서는 주식 발행 및 잠재적인 주식 통합 결의안에 대해 투표할 것입니다. 주요 전략적 이점으로는 미국 내 우라늄 생산 능력 확대, Shootaring Canyon 밀소의 소유, 운영 시너지 효과 및 강화된 자본 시장 프로필이 포함됩니다. 이사회는 주주들에게 두 개의 결의안 모두에 대해 찬성 투표를 할 것을 만장일치로 권장합니다.
IsoEnergy annonce le dépôt et l'envoi d'une circulaire d'information pour une réunion spéciale concernant son acquisition de Anfield Energy. Cet accord fera d'Anfield une filiale entièrement détenue par IsoEnergy, avec des anciens actionnaires d'IsoEnergy possédant environ 83,8 % et des actionnaires d'Anfield 16,2 % de l'entité combinée. La réunion, prévue pour le 3 décembre 2024, votera sur l'émission d'actions et sur d'éventuelles résolutions de consolidation des actions. Les principaux avantages stratégiques comprennent l'expansion de la capacité de production d'uranium aux États-Unis, la propriété du moulin de Shootaring Canyon, des synergies opérationnelles et un profil sur les marchés des capitaux amélioré. Le Conseil recommande à l'unanimité aux actionnaires de voter en faveur des deux résolutions.
IsoEnergy gibt die Einreichung und den Versand des Informationszirkulars für eine besondere Sitzung bekannt, die sich mit der Übernahme von Anfield Energy befasst. Die Vereinbarung wird Anfield zu einer hundertprozentigen Tochtergesellschaft von IsoEnergy machen, wobei frühere IsoEnergy-Aktionäre etwa 83,8 % und Anfield-Aktionäre 16,2 % des kombinierten Unternehmens besitzen werden. Die Sitzung, die für den 3. Dezember 2024 angesetzt ist, wird über die Ausgabe von Aktien und mögliche Beschlüsse zur Aktionenkonsolidierung abstimmen. Zu den wichtigsten strategischen Vorteilen gehören die Erweiterung der Produktionskapazität für Uran in den USA, das Eigentum an der Shootaring Canyon-Mühle, operative Synergien und ein verbessertes Profil auf den Kapitalmärkten. Der Vorstand empfiehlt einstimmig den Aktionären, beiden Beschlüssen zuzustimmen.
- Acquisition secures ownership of Shootaring Canyon Mill, one of only three permitted uranium mills in the U.S.
- Expected operational synergies through combined portfolio in Utah and Colorado
- Enhanced capital markets profile with improved access to capital and trading liquidity
- Strong institutional backing from major players including NexGen Energy, Mega Uranium, and Energy Fuels
- Potential to increase mill throughput from 750 to 1,000 stpd and expand production capacity from 1M to 3M lbs U₃O₈
- Shareholder dilution with existing shareholders' ownership reduced to 83.8%
- Your vote is important no matter how many votes you hold. Vote today.
- The Board of Directors of IsoEnergy recommends that Shareholders vote
IN FAVOUR of both Meeting Resolutions
- Shareholders who have questions or need assistance with voting their shares should contact IsoEnergy's proxy solicitation agent and shareholder communications advisor Laurel Hill Advisory Group by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com.
The Arrangement and Meeting Details
On October 1, 2024, IsoEnergy and Anfield Energy Inc. ("Anfield") entered into a definitive agreement (the "Arrangement Agreement") pursuant to which IsoEnergy has agreed to acquire all of the issued and outstanding common shares of Anfield (the "Anfield Shares") by way of a court-approved plan of arrangement (the "Arrangement").
If the Arrangement is completed, Anfield will become a wholly-owned subsidiary of IsoEnergy. IsoEnergy Shareholders will continue to own their existing common shares of IsoEnergy ("IsoEnergy Shares") on completion of the Arrangement. Following the completion of the Arrangement, former IsoEnergy Shareholders are expected to own approximately
At the Meeting, IsoEnergy Shareholders will be asked to vote on an ordinary resolution approving the issuance of IsoEnergy Shares in connection with the Arrangement (the "Share Issuance Resolution") and a special resolution approving a potential consolidation of the IsoEnergy Shares (together with the Share Issuance Resolution, the "Resolutions"), in each case as more particularly described in the Circular.
IsoEnergy will hold its Meeting on December 3, 2024, at 2:00 pm (
IsoEnergy Board of Directors' Recommendations
The Board of Directors of IsoEnergy unanimously recommends that IsoEnergy shareholders vote FOR both Resolutions
IsoEnergy Shareholders are encouraged to read the Circular in detail and vote your IsoEnergy Shares as soon as possible. The deadline for voting your IsoEnergy Shares is at 2:00 p.m. (
Strategic Rationale for the Arrangement
The following is a summary of certain principal reasons for the unanimous determination of the IsoEnergy Board that the Arrangement is in the best interests of IsoEnergy and the unanimous recommendation of the IsoEnergy Board that IsoEnergy Shareholders vote FOR the Share Issuance Resolution:
- Expected Expansion of Near-Term
U.S. Uranium Production Capacity – The combined portfolio (the "Combined Portfolio") of permitted past-producing mines and development projects in theWestern U.S. is expected to provide IsoEnergy with substantial increased uranium production potential in the short, medium and long term. - Ownership of Shootaring Canyon Mill – Completion of the Arrangement secures ownership of the Shootaring Canyon Mill, one of only three permitted conventional uranium mills in the
U.S. , and which is located adjacent to IsoEnergy's Tony M Mine. A production reactivation plan has been submitted to the UDEQ for the Shootaring Canyon Mill. The plan addresses the updating of the mill's radioactive materials licence from its current standby status to operational status as well as to increase throughput from 750 stpd to 1,000 stpd and expand licensed annual production capacity from 1 million lbs U₃O₈ to 3 million lbs U₃O₈. IsoEnergy also has existing toll-milling agreements in place with Energy Fuels for its White Mesa Mill to provide additional processing flexibility for certain of IsoEnergy's mines. - Complimentary Project Portfolio Provides Immediate Operational Synergies – Benefits from the proximity of the Combined Portfolio in
Utah andColorado are expected to include, reduced transportation costs, increased operational flexibility for mining and processing, reduction in G&A on a per pound basis, and risk diversification through multiple production sources. - Aligned with Goal of Building a Multi-Asset Uranium Producer in Tier-One Jurisdictions – Beyond the impressive Combined Portfolio in the
U.S. , the pro forma company will have a robust pipeline of development and exploration-stage projects in tier-one uranium jurisdictions, including the world's highest grade published indicated uranium mineral resource inCanada 'sAthabasca Basin. - Well-Timed to Capitalize on Strong Momentum in the Nuclear Industry – Recent industry headlines relating to increasing demand and support for nuclear power are expected to drive uranium demand, and by extension, prices, coinciding with expected production and development of the Combined Portfolio.
- Enhanced Capital Markets Profile with Strong Shareholder Base. The Arrangement is expected to provide IsoEnergy with greater access to capital and trading liquidity, strengthened position for future M&A, expanded research coverage and increased attractiveness among investors and utilities. Additionally, the pro forma company will be backed by corporate and institutional investors of both companies, including, NexGen Energy Ltd., Mega Uranium Ltd., enCore Energy Corp., Energy Fuels Inc. and Uranium ETFs.
Additional details with respect to the reasons for the IsoEnergy Board's recommendation are described in the Circular, which IsoEnergy Shareholders are urged to read in its entirety.
How To Vote
Registered Shareholders | Beneficial Shareholders | ||
Common Shares held in own name and | Common Shares held with a broker, bank or | ||
Internet | |||
Telephone | 1-866-732-8683 | Call the applicable number listed on the voting instruction form. | |
Return the form of proxy in the enclosed envelope. | Return the voting instruction form in the enclosed envelope. |
Shareholder Questions
IsoEnergy Shareholders who have any questions or require assistance with voting may contact Laurel Hill Advisory Group, IsoEnergy's proxy solicitation agent and shareholder communications advisor:
Laurel Hill Advisory Group
Toll Free: 1-877-452-7184 (for shareholders in
International: +1 416-304-0211 (for shareholders outside
By Email: assistance@laurelhill.com
About IsoEnergy Ltd.
IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of
IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. No securities regulatory authority has either approved or disapproved of the contents of this news release.
None of the securities to be issued pursuant to the Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", 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". These forward-looking statements or information may relate to the Arrangement, including statements with respect to the consummation of the Arrangement; receipt and timing of approval of the IsoEnergy Shareholders with respect to the Arrangement; the anticipated benefits of the Arrangement to IsoEnergy and its shareholders; the anticipated mailing of the Circular and the date of the Meeting; the expected ownership interest of IsoEnergy Shareholders and Anfield shareholders in the combined company; anticipated strategic and growth opportunities for the combined company; the successful integration of the businesses of IsoEnergy and Anfield; the potential for, success of and anticipated timing of commencement of future commercial production at the companies' properties, including expectations with respect to any permitting, development or other work that may be required to bring any of the projects into development or production; increased demand for nuclear power and uranium and the expected impact on the price of uranium; and any other activities, events or developments that the companies expect or anticipate will or may occur in the future.
Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that IsoEnergy and Anfield will complete the Arrangemen tin accordance with, and on the timeline contemplated by the terms and conditions of the relevant agreements; that the parties will receive the required shareholder, regulatory, court and stock exchange approvals and will satisfy, in a timely manner, the other conditions to the closing of the Arrangement; the accuracy of management's assessment of the effects of the successful completion of the Arrangement and that the anticipated benefits of the Arrangement will be realized; the anticipated mineralization of IsoEnergy's and Anfield's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the combined company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in 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 such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.
Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: the inability of IsoEnergy and Anfield to complete the Arrangement; a material adverse change in the timing of and the terms and conditions upon which the Arrangemen tis completed; the inability to satisfy or waive all conditions to closing the Arrangement; the failure to obtain shareholder, regulatory, court or stock exchange approvals in connection with the Arrangement; the inability of the combined company to realize the benefits anticipated from the Arrangemen tand the timing to realize such benefits; the inability of the consolidated entity to realize the benefits anticipated from the Arrangement and the timing to realize such benefits, including the exploration and drilling targets described herein; unanticipated changes in market price for IoOEnergy Shares and/or Anfield shares; changes to IsoEnergy's and/or Anfield's current and future business plans and the strategic alternatives available thereto; growth prospects and outlook of Anfield's business; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in
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SOURCE IsoEnergy Ltd.
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