IsoEnergy & DISA Technologies Close Transaction to Form DISA Uranium Corporation

IsoEnergy Ltd. and DISA Technologies, Inc. have completed the previously announced transaction to form DISA Uranium Corporation, a new technology-enabled US uranium company. Pursuant to the definitive agreement, IsoEnergy contributed its Utah Portfolio comprising the Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, and Flatiron Project to DISA Uranium in exchange for 1,677,350 shares of Common Stock. Concurrent with the closing, DISA Uranium closed US105 million in private placement financing from Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs, and Veriten, with IsoEnergy investing US$33 million

Company Overview

IsoEnergy Ltd. (NYSE American: ISOU | TSX: ISO) is a globally diversified uranium company with current and historical mineral resources in Canada, the US, and Australia at varying stages of development. The company is advancing its Larocque East Project in Canada's Athabasca Basin, home to the Hurricane deposit, which the company describes as holding 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., currently on standby for a potential restart.

Transaction Closing

IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) and DISA Technologies, Inc. have completed the previously announced transaction to form DISA Uranium Corporation, a new technology-enabled US uranium company. IsoEnergy contributed its Utah Portfolio to DISA Uranium in exchange for 1,677,350 shares of Common Stock, combining IsoEnergy's permitted, past-producing conventional uranium mines with DISA's proprietary High-Pressure Slurry Ablation (HPSA) technology and remediation and recovery business. DISA Uranium concurrently closed US$105 million in private placement financing from a consortium of strategic investors including Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs, and Veriten. 

The Board of Directors of DISA Uranium now consists of 7 directors, including IsoEnergy Board of Directors Chairman Richard Patricio, IsoEnergy Chief Executive Officer (CEO) and Director Philip Williams, Tembo Capital Partner George Pyper, DISA Uranium CEO Greyson Buckingham, Scott Saxberg, Marty Reed, and former US Nuclear Regulatory Commission (NRC) Commissioner Jeffrey Merrifield.

CEO and Director of IsoEnergy Ltd., Philip Williams, commented:

"The completion of this Transaction unlocks the value of our Utah Portfolio while providing IsoEnergy with meaningful exposure to a differentiated U.S. uranium platform. As DISA Uranium's largest shareholder, we are excited to support its growth and participate in the significant opportunity ahead."

CEO of DISA Uranium Corporation, Greyson Buckingham, also commented: 

"The completion of this Transaction marks an important step in building DISA Uranium into a leading U.S. uranium company. With established uranium assets, innovative technology that unlocks a substantial stranded asset, and strong financial backing, we are excited to advance our strategy and capitalize on the significant opportunity ahead.”

Next Steps

With the Transaction complete, DISA Uranium intends to advance a multi-pronged strategy focused on deploying its HPSA technology to recover uranium from abandoned uranium mine (AUM) waste, bringing conventional US uranium production back online, and developing domestic processing capacity. The Tony M Mine is targeted as a near-term priority within the Utah Portfolio, alongside the advancement of DISA Uranium's remediation activities and broader development strategy. DISA Uranium holds the only US NRC license to treat and recover AUM waste across multiple sites.