IsoEnergy Announces Filing and Mailing of the Management Information Circular in Connection with its Special Meeting of Shareholders to Approve the Acquisition of Anfield
Press Release
- 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.
Toronto, ON – November 6, 2024 – IsoEnergy Ltd. (“IsoEnergy”) (TSX: ISO; OTCQX: ISENF) is pleased announce that its management information circular (the “Circular”) and related materials in connection with the special meeting (the “Meeting”) of shareholders (the “IsoEnergy Shareholders”) are now available on IsoEnergy’s website at www.isoenergy.ca/investors/special-meeting/ as well as under IsoEnergy’s profile on SEDAR+ (www.sedarplus.ca). IsoEnergy commenced the mailing of the Circular and related materials for the Meeting to IsoEnergy Shareholders on Wednesday, November 6, 2024.
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 83.8%, and former Anfield shareholders are expected to own approximately 16.2% of the issued and outstanding IsoEnergy Shares on a fully-diluted in-the-money basis, in each case based on the number of securities of IsoEnergy and Anfield issued and outstanding as of October 1, 2024.
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 (Toronto time) online at meetnow.global/M9YNP66 with the ability for IsoEnergy Shareholders to participate electronically as explained further in the Circular.
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. (Toronto time) on Friday, November 29, 2024.
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 the Western 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 and Colorado 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 in Canada’s Athabasca 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 represented by a physical certificate or DRS. | Common Shares held with a broker, bank or other intermediary. | ||
| Internet | www.investorvote.com | www.proxyvote.com | |
| 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 North America)
International: +1 416-304-0211 (for shareholders outside Canada and the US)
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 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 Inc. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.
For More Information, Please Contact:
Philip Williams
CEO and Director
info@isoenergy.ca
1-833-572-2333
X: @IsoEnergyLtd
www.isoenergy.ca
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