Mining & Metals
IsoEnergy Announcing New At-The-Market Equity Program
IsoEnergy (ISO.TO) over the weekend said it entered into an equity distribution agreement with Virtu Canada Corp and Virtu Americas LLC.The company said that, pursuant to the distribution agreement, it may distribute up to C$50 million (or its equivalent in other currencies) of common shares in the capital of the company, from time to time through the agents. The company further said that this ATM program replaces its previous at-the-market equity program announced on June 2, 2025, which has since been terminated.The company added that the TSX has conditionally approved the listing of the common shares that may be issued under the ATM program, and the company has applied for authorization from the NYSE American for the listing of such common shares."The ATM Program will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Program and the date that the ATM Program is otherwise terminated pursuant to the terms of the Distribution Agreement," said the company.The company plans to use the net proceeds from the ATM program, if any, for general corporate purposes, which may include funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness, technical studies and exploration in the United States and Australia and additions to working capital."Maintaining an at-the-market equity program provides IsoEnergy with additional financial flexibility and an efficient supplemental capital markets tool that can be used selectively, if and when appropriate," said Philip Williams, Chief Executive Officer and Director of IsoEnergy. "With a strong cash position of $135.1 million and equity portfolio of $52.6 million, we are well funded to execute on our current plans, and the ATM Program is not being established to address any immediate capital requirements. Instead, it preserves optionality, allowing the Company to act opportunistically in support of future growth, strategic initiatives, and balance sheet strength."
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