VANCOUVER, BC, Oct. 17, 2016 /CNW/ - IsoEnergy Ltd.
("IsoEnergy" or the "Company") is pleased to announce that it has completed its previously announced three-cornered
amalgamation (the "Amalgamation") with Airesurf Networks Holdings Ltd. ("Airesurf") and has received conditional
approval to list its common shares on the TSX Venture Exchange ("TSXV").
On October 7, 2016, the TSXV issued its conditional approval to the listing of IsoEnergy's common
shares on the TSXV, as a Tier 2 Mining Issuer. Listing remains subject to the satisfaction of the TSXV's standard listing
conditions. It is anticipated that IsoEnergy will be listed and commence trading on the TSXV under the symbol "ISO" on or
about October 19, 2016. In accordance with the policies of the TSXV, 29,450,002 common shares, all
held by NexGen Energy Ltd., are subject to a Tier 2 Value Escrow Agreement to be released in instalments over the ensuing 36 month
period.
On October 13, 2016, a newly-formed wholly-owned subsidiary of IsoEnergy amalgamated with Airesurf
under the Ontario Business Corporations Act to form IsoOre Ltd., a wholly-owned subsidiary
of IsoEnergy. In connection with the Amalgamation, IsoEnergy issued an aggregate of 302,881 common shares to former shareholders of
Airesurf, representing approximately 1% of the issued and outstanding common shares of IsoEnergy. The Amalgamation did not have any
effect on the business or financial condition of IsoEnergy. With the completion of the Amalgamation, the Company will have
38,944,113 common shares issued and outstanding and no convertible securities, of which 29,450,002 common shares are held by NexGen
Energy Ltd.
For a further description of the Amalgamation and the business, properties and capitalization of IsoEnergy please see the
Listing Application (Form 2B) that will be filed on www.sedar.com, under IsoEnergy's profile.
The Company plans to use available funds to explore its Thorburn Lake Project and Radio Project, all as more particularly
described in the Listing Application.
About IsoEnergy
IsoEnergy is a mineral exploration company that was incorporated under the laws of the Province of British Columbia as a wholly-owned subsidiary of NexGen Energy Ltd. ("NexGen") for the purpose of
acquiring a portfolio of early stage mineral exploration properties from NexGen. The principal business activity of IsoEnergy
is the acquisition and exploration of early stage mineral properties. IsoEnergy is focused primarily on the exploration of its
Radio Project, in which it has an exclusive right to earn a 70% interest, and its 100% owned Thorburn Lake Project, in each
case, located in the Athabasca Basin of Saskatchewan. IsoEnergy
also holds a 100% interest in each of the Madison, 2Z, Carlson Creek and the Thorburn North
property.
IsoEnergy is led and supported by an experienced executive management team and Board of Directors, all of whom have been or are
also involved with NexGen and the discovery and development of its Rook 1 project, also located in the Athabasca Basin of Saskatchewan.
This news release contains "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, listing of
IsoEnergy on the TSXV. 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.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and
forecasts about IsoEnergy's business and the industry and markets in which it operates. Forward-looking information and statements
are made based upon certain assumptions and other important factors that could cause the actual results, performances or
achievements of IsoEnergy to be materially different from future results, performances or achievements expressed or implied by such
information or statements. Such information and statements are based on numerous assumptions including, among others, that the
results of planned exploration activities are as anticipated, the price of uranium, the anticipated cost of planned exploration
activities, that general business and economic conditions will not change in a material adverse manner, that financing will be
available if and when needed on reasonable terms and that third party contractors, equipment, supplies and governmental and other
approvals required to conduct IsoEnergy's planned exploration activities will be available on reasonable terms and in a timely
manner.
Forward-looking information and statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of IsoEnergy to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to the
negative operating cash flow and dependence on third party financing; the uncertainty of additional financing; potential forfeiture
of the Radio Option Agreement; the limited operating history of IsoEnergy; the lack of known mineral resources or reserves; the
influence of a large Shareholder; alternate sources of energy and uranium prices; aboriginal title and consultation issues; risks
related to exploration activities generally; reliance upon key management and other personnel; title to properties; uninsurable
risks; conflicts of interest; permits and licences; environmental and other regulatory requirements; political regulatory risks;
competition; and the volatility of share price, all as more particularly described under "Risk Factors" in the Company's Listing
Application available at www.sedar.com.
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.
SOURCE IsoEnergy Ltd.
