IsoEnergy Exercises Put Option to Strengthen Partnership with Purepoint
IsoEnergy has exercised its put option to strengthen its partnership with Purepoint Uranium Group, establishing a balanced 50/50 ownership structure in their joint venture covering 10 uranium projects in the Athabasca Basin. Under the agreement, Purepoint acquires 10% of IsoEnergy's JV interest in exchange for 4 million shares, increasing IsoEnergy's ownership in Purepoint to 11.41% (non-diluted) and 15.78% (partially diluted).
The partnership encompasses several strategic projects, including the Hook Lake Joint Venture with Cameco and Orano, where previous drilling revealed 10.3% U₃O₈ over 10.0 metres, and the Smart Lake Joint Venture with Cameco, which has shown promising uranium mineralization. IsoEnergy's equity portfolio, including positions in various uranium companies, is now valued at approximately $40 million.
IsoEnergy ha esercitato la sua opzione di vendita per rafforzare la sua partnership con Purepoint Uranium Group, stabilendo una struttura di proprietà equilibrata 50/50 nella loro joint venture che copre 10 progetti di uranio nella Basin di Athabasca. In base all'accordo, Purepoint acquisisce il 10% dell'interesse di JV di IsoEnergy in cambio di 4 milioni di azioni, aumentando la proprietà di IsoEnergy in Purepoint all'11,41% (non diluito) e al 15,78% (parzialmente diluito).
La partnership comprende diversi progetti strategici, tra cui il Hook Lake Joint Venture con Cameco e Orano, dove le precedenti perforazioni hanno rivelato il 10,3% di U₃O₈ su 10,0 metri, e il Smart Lake Joint Venture con Cameco, che ha mostrato promettente mineralizzazione di uranio. Il portafoglio azionario di IsoEnergy, che include posizioni in varie aziende di uranio, è ora valutato a circa 40 milioni di dollari.
IsoEnergy ha ejercido su opción de venta para fortalecer su asociación con Purepoint Uranium Group, estableciendo una estructura de propiedad equilibrada 50/50 en su empresa conjunta que cubre 10 proyectos de uranio en la Cuenca de Athabasca. Según el acuerdo, Purepoint adquiere el 10% del interés de JV de IsoEnergy a cambio de 4 millones de acciones, aumentando la propiedad de IsoEnergy en Purepoint al 11,41% (no diluido) y al 15,78% (parcialmente diluido).
La asociación abarca varios proyectos estratégicos, incluyendo la Hook Lake Joint Venture con Cameco y Orano, donde la perforación anterior reveló un 10,3% de U₃O₈ sobre 10,0 metros, y la Smart Lake Joint Venture con Cameco, que ha mostrado mineralización de uranio prometedora. El portafolio de acciones de IsoEnergy, que incluye posiciones en varias empresas de uranio, está valorado ahora en aproximadamente 40 millones de dólares.
IsoEnergy는 Purepoint Uranium Group와의 파트너십을 강화하기 위해 풋옵션을 행사하여 Athabasca Basin에 있는 10개의 우라늄 프로젝트를 포함하는 합작 투자에서 50/50 소유 구조를 구축했습니다. 이 계약에 따라 Purepoint는 4백만 주를 대가로 IsoEnergy의 합작 투자 지분 10%를 인수하게 되며, IsoEnergy의 Purepoint에 대한 소유권은 11.41%(비희석)에서 15.78%(부분 희석)로 증가합니다.
파트너십에는 Cameco와 Orano와의 Hook Lake Joint Venture를 포함한 여러 전략적 프로젝트가 포함되어 있으며, 이전의 드릴링에서는 10.0미터에서 10.3% U₃O₈가 발견되었습니다. 또한, Cameco와의 Smart Lake Joint Venture도 우라늄 광물화의 유망한 징후를 나타내고 있습니다. IsoEnergy의 주식 포트폴리오는 여러 우라늄 회사의 지분을 포함하며 현재 약 4000만 달러로 평가되고 있습니다.
IsoEnergy a exercé son option de vente pour renforcer son partenariat avec Purepoint Uranium Group, établissant une structure de propriété équilibrée à 50/50 dans leur coentreprise couvrant 10 projets d'uranium dans le bassin d'Athabasca. Selon l'accord, Purepoint acquiert 10% des intérêts de JV d'IsoEnergy en échange de 4 millions d'actions, augmentant la participation d'IsoEnergy dans Purepoint à 11,41% (non dilué) et 15,78% (partiellement dilué).
Le partenariat inclut plusieurs projets stratégiques, y compris la Hook Lake Joint Venture avec Cameco et Orano, où des forages précédents ont révélé 10,3% U₃O₈ sur 10,0 mètres, et la Smart Lake Joint Venture avec Cameco, qui a montré une minéralisation d'uranium prometteuse. Le portefeuille d'actions d'IsoEnergy, incluant des positions dans diverses entreprises d'uranium, est désormais évalué à environ 40 millions de dollars.
IsoEnergy hat seine Verkaufsoption ausgeübt, um die Partnerschaft mit Purepoint Uranium Group zu stärken und eine ausgeglichene Besitzstruktur von 50/50 in ihrem Joint Venture, das 10 Uranprojekte im Athabasca-Becken umfasst, zu etablieren. Im Rahmen der Vereinbarung erwirbt Purepoint 10% des JV-Interesses von IsoEnergy im Austausch für 4 Millionen Aktien, wodurch der Anteil von IsoEnergy an Purepoint auf 11,41% (nicht verwässert) und 15,78% (teilweise verwässert) steigt.
Die Partnerschaft umfasst mehrere strategische Projekte, einschließlich des Hook Lake Joint Venture mit Cameco und Orano, wo frühere Bohrungen 10,3% U₃O₈ über 10,0 Meter zeigten, sowie das Smart Lake Joint Venture mit Cameco, das vielversprechende Uranschenkung zeigt. IsoEnergys Aktienportfolio, das Positionen in verschiedenen Uranunternehmen umfasst, wird jetzt auf ungefähr 40 Millionen Dollar geschätzt.
- Establishment of balanced 50/50 ownership structure in joint venture covering 98,000 hectares
- IsoEnergy increases ownership in Purepoint to 11.41% (non-diluted) and 15.78% (partially diluted)
- Previous drilling at Hook Lake JV showed high-grade uranium (10.3% U₃O₈ over 10.0 metres)
- IsoEnergy's equity portfolio reaches approximately $40 million in value
- None.
Toronto, Ontario--(Newsfile Corp. - January 15, 2025) - IsoEnergy Ltd. (TSX: ISO) (OTCQX: ISENF) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) ("Purepoint") are pleased to announce that IsoEnergy has exercised its put option ("Put Option") under the terms of their joint venture (the "Joint Venture"), as announced in a press release dated December 19, 2024. With this strengthened partnership, both companies are now strategically positioned to collaboratively advance the exploration of 10 highly prospective uranium projects spanning over 98,000 hectares in the eastern Athabasca Basin, renowned as one of the world's most prolific uranium districts.
The exercise of the Put Option establishes a balanced 50/50 ownership structure for the Joint Venture, with Purepoint acquiring
- Hook Lake Joint Venture: In partnership with Cameco and Orano, this project is strategically located on the western side of the Athabasca Basin, along the same trend as Fission Uranium's Triple R and NexGen's Arrow deposits. Notably, the Spitfire discovery within this joint venture returned
10.3% U₃O₈ over 10.0 metres; - Smart Lake Joint Venture: In partnership with Cameco, this project is situated on the western side of the Athabasca Basin, approximately 18 km west-northwest of Hook Lake and 60 km south-southwest of Orano's historic Cluff Lake Mine. Drilling at Smart Lake intersected 15.4 metres of 147 ppm U at just 200 metres below surface. Purepoint recently announced a
$1.2 million drill program for this project; and - Denare West VHMS Project: Optioned to Foran Mining, this project is strategically located in east-central Saskatchewan, adjacent to and along the same trend as Foran's flagship McIlvenna Bay Project.
Philip Williams, CEO of IsoEnergy, commented, "The transition to a 50/50 partnership aligns our interests and strengthens our collaboration as we advance some of the most promising uranium assets in the Athabasca Basin. By increasing our equity position in Purepoint, IsoEnergy enhances its exposure to a diverse and strategically valuable portfolio, with a view to ensuring we are positioned to capitalize on their broader exploration successes. IsoEnergy's equity portfolio is now worth approximately
Chris Frostad, President and CEO of Purepoint, added, "IsoEnergy's decision to exercise their Put Option underscores the strength of our partnership and the potential of our Joint Venture projects. We believe that together, as equal partners, we are uniquely positioned to advance these high-value assets while leveraging the financial and operational strengths that come from our collaboration."
Under the terms of the Put Option, IsoEnergy will receive 4,000,000 common shares of Purepoint ("PTU Shares") in exchange for
The Joint Venture remains a cornerstone of both companies' exploration strategies. This equal partnership ensures full alignment and a shared commitment to driving uranium discoveries across one of the world's most prolific uranium districts.
About IsoEnergy Ltd.
IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia 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. These mines are currently on standby, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.
About Purepoint Uranium Group Inc.
Purepoint Uranium Group Inc. (TSXV: PTU) (OTCQB: PTUUF) is a focused explorer with a dynamic portfolio of advanced projects within the renowned Athabasca Basin in Canada. The most prospective projects are actively operated on behalf of partnerships with industry leaders including Cameco Corporation, Orano Canada Inc. and IsoEnergy Ltd.
Additionally, the Company holds a promising VHMS project currently optioned to and strategically positioned adjacent to and on trend with Foran Corporation's McIlvena Bay project. Through a robust and proactive exploration strategy, Purepoint is solidifying its position as a leading explorer in one of the globe's most significant uranium districts.
Qualified Person Statement
The scientific and technical information contained in this news release relating to Purepoint was reviewed and approved by Scott Frostad BSc, MASc, PGeo, Purepoint's Vice President, Exploration, who is the Qualified Person responsible for technical content of this release.
For further information, please contact:
IsoEnergy Ltd.
Philip Williams, CEO and Director
(833) 572-2333
info@isoenergy.ca
www.isoenergy.ca
Purepoint Uranium Group Inc.
Chris Frostad, President and CEO
(416) 603-8368
cfrostad@purepoint.ca
www.purepoint.ca
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this Press release.
Disclosure regarding forward-looking statements
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". This forward-looking information may relate to the anticipated benefits of the Joint Venture to the parties and their respective shareholders; the expected ownership interests of IsoEnergy and Purepoint in the Joint Venture; the prospects of each company's respective projects, including mineralization of each project; the potential for, success of and anticipated timing of commencement of future exploration and development of the Joint Venture projects; 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, the accuracy of management's assessment of the anticipated benefits of the Joint Venture; the anticipated mineralization of IsoEnergy's and Purepoint'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 Joint Venture's planned activities will be available on reasonable terms and in a timely manner. Although each of IsoEnergy and Purepoint have 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 and Purepoint with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy and Purepoint, 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 the Joint Venture to realize the benefits anticipated from the Joint Venture and the timing to realize such benefits; changes to IsoEnergy's and/or Purepoint's current and future business plans and the strategic alternatives available thereto; growth prospects and outlook of Purepoint's business; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, the United States and other jurisdictions where the applicable party conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in each of IsoEnergy's and Purepoint's most recent annual management's discussion and analyses or annual information forms and IsoEnergy's and Purepoint's other filings with the Canadian securities regulators which are available, respectively, on each company's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy and Purepoint do not undertake to update any forward-looking information, except in accordance with applicable securities laws.
[1] IsoEnergy's equity holdings are reported as of market close on January 9, 2025, and includes a
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237182
FAQ
What is the new ownership structure between IsoEnergy and Purepoint (PTUUF) after the put option exercise?
How many Purepoint (PTUUF) shares does IsoEnergy now own after the put option exercise?
What are the key uranium projects included in the IsoEnergy-Purepoint (PTUUF) joint venture?
What were the drilling results at Purepoint's (PTUUF) Hook Lake project?
