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IsoEnergy, DISA Technologies Complete Transaction to Form a US Uranium Company

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IsoEnergy (ISO.TO) and DISA Technologies after trade Wednesday said they completed their deal to create DISA Uranium Corp., a new U.S. uranium company.

IsoEnergy contributed its portfolio of permitted, past-producing uranium mines in Utah, including the Tony M, Daneros, Rim, Sage Plain and Flatiron projects, to DISA Uranium in exchange for nearly 1.68-million common shares, the company said.

"DISA Uranium combined IsoEnergy's Utah Portfolio with DISA's proprietary HPSA technology and remediation and recovery business," it added.

Concurrently, DISA Uranium completed a $105-million private placement. IsoEnergy invested $33 million in the financing. Following the transaction and financing, IsoEnergy owns about 33% of DISA Uranium on a fully diluted basis, making it the company's largest shareholder, according to the statement.

DISA Uranium's board now has seven directors, including IsoEnergy Chairman Richard Patricio and Chief Executive Phillip Williams, as well as representatives from Tembo Capital and DISA's existing board, the company said.

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