On June 25, 2026, IsoEnergy Ltd. completed the acquisition of all of the outstanding ordinary shares of Toro Energy Ltd. pursuant to a scheme of arrangement under Australia’s Corporations Act 2001. Under the terms of the transaction, Toro shareholders received 0.036 of a common share of IsoEnergy for each Toro share held on the Scheme record date. Toro owns 100% of the Wiluna Uranium Project, located 30km south of the town of Wiluna in the northern goldfields of Western Australia. The implied fully-diluted in-the-money equity value of the transaction is equal to approximately $68.1 million.
Cassels acted as Canadian counsel to IsoEnergy.