Iso Energy

Canaccord Genuity Acts as Exclusive Financial Advisor to IsoEnergy on its Proposed Acquisition of Anfield

Canaccord Genuity is pleased to announce that on October 2, 2024, its client, IsoEnergy Ltd. (TSX:ISO,OTC:ISENF) (“IsoEnergy” or the “Company”) entered into a definitive arrangement agreement with Anfield Energy Inc. (TSXV:AEC, OTCQB: ANLDF; FRANKFURT: 0AD) (“Anfield”) pursuant to which IsoEnergy agreed to acquire all of the issued and outstanding shares of Anfield by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Proposed Transaction”).

Under the terms of the Proposed Transaction, all the outstanding Anfield shares will be exchanged at a ratio of 0.031 of a common share of IsoEnergy for each common share of Anfield (the “Exchange Ratio”). The Exchange Ratio values 100% of the Anfield equity at $126.8 million on a fully-diluted in-the-money basis. IsoEnergy shareholders and Anfield shareholders will own 83.8% and 16.2% of the resulting entity, respectively, on a fully-diluted in-the-money basis. The implied fully-diluted in-the-money equity value of the combined company is estimated to be approximately $780.5 million.

Canaccord Genuity is acting as exclusive financial advisor to IsoEnergy and provided a fairness opinion to the IsoEnergy Board of Directors.

IsoEnergy is a leading, globally diversified uranium company with substantial current and historical mineral resources in top uranium mining jurisdictions of Canada, the U.S. and Australia at varying stages of development, providing near, medium, and long-term leverage to rising uranium prices. IsoEnergy is currently advancing its Larocque East Project in Canada’s Athabasca Basin, which is home to the Hurricane deposit, boasting the world’s highest grade Indicated uranium Mineral Resource.

IsoEnergy also holds a portfolio of permitted, past-producing conventional uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels Inc. These mines are currently on stand-by, ready for rapid restart as market conditions permit, positioning IsoEnergy as a near-term uranium producer.

Anfield is a uranium and vanadium development and near-term production company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. A key asset in Anfield’s portfolio is the Shootaring Canyon Mill in Garfield County, Utah. The Shootaring Canyon Mill is strategically located within one of the historically most prolific uranium production areas in the United States, and is one of only three licensed uranium mills in the United States.