On February 14, 2025, IsoEnergy Ltd. completed the sale of its Mountain Lake Project in Nunavut to Future Fuels Inc.
Pursuant to the transaction, Future Fuels acquired the Mountain Lake Project from IsoEnergy in exchange for consideration comprised of (i) the issuance of 12,500,000 common shares of Future Fuels to IsoEnergy upon closing; (ii) the future issuance to IsoEnergy of 2,500,000 common shares of Future Fuels; and (iii) the grant by Future Fuels to IsoEnergy of a 2% net smelter returns royalty payable on all production from the Mountain Lake property, of which 1% will be eligible for repurchase by Future Fuels for $1 million, and a 1% net smelter returns royalty payable on all production from Future Fuels’ properties in Nunavut other than the Mountain Lake property.
Cassels acted for IsoEnergy.