On June 28, 2024, IsoEnergy Ltd. completed the acquisition of all of the outstanding shares of 2596190 Alberta Ltd., a wholly-owned subsidiary of Critical Path Minerals Corp., which holds a 100% interest in the Bulyea River project located on the northern edge of the Athabasca Basin.
As consideration for the project, IsoEnergy agreed to pay the vendor consideration comprised of: (i) $150,000 on closing; (ii) $200,000 in cash or common shares of IsoEnergy payable on or before the 1st anniversary of closing; (iii) $300,000 in cash or common shares of IsoEnergy payable on or before the 2nd anniversary of closing; (iv) $350,000 in cash or common shares of IsoEnergy payable on or before the 2nd anniversary of closing; (v) $1 million in cash or common shares of IsoEnergy upon publication of a technical report containing a current mineral resource estimate on the project, and (vi) a 2% net smelter returns royalty payable on all production from the project, of which has the right to buy back 1% at a price of $1 million in cash.
Cassels acted for IsoEnergy.