IsoEnergy To Become Strategic Shareholder Of UraniumX As Company Agrees To Acquire Dieter Lake Uranium Project

IsoEnergy Ltd. is set to become a strategic shareholder in UraniumX Discovery Corp. as IsoEnergy, through its subsidiary Consolidated Uranium Inc., agrees to acquire the Dieter Lake uranium project. IsoEnergy will acquire a 100% interest in the Dieter Lake project in North-Central Quebec.

In exchange for the project, Consolidated Uranium will receive 18,000,000 common shares of UraniumX, valued at $0.10 per share, and a 2.0% net smelter returns royalty. Upon closing, IsoEnergy is expected to hold approximately 15.6% of UraniumX on a non-diluted, post-transaction basis, making it one of UraniumX's largest shareholders and granting it the right to nominate one director to the UraniumX board.

This transaction is viewed as a strategic endorsement from IsoEnergy, a leading uranium developer known for its Hurricane uranium deposit, which it describes as the world's highest-grade published indicated uranium mineral resource. IsoEnergy's significant equity position in UraniumX underscores the strategic importance of the acquisition.