IsoEnergy Ltd.(TSXV:ISO) entered into an agreement to acquire Consolidated Uranium Inc. (TSXV:CUR) from Energy Fuels Inc. and Mega Uranium Ltd. for CAD 240 million on September 27, 2023. As part of consideration, Consolidated Uranium shareholders will receive 0.500 of a common share of IsoEnergy for each CUR Share held. The combine company?s board of directors will consist of six directors, four of whom were selected by IsoEnergy from the existing IsoEnergy directors, consisting of Richard Patricio (who will be appointed Chair), Leigh Curyer (who will be appointed Vice Chair), Chris McFadden and Peter Netupsky, and two of whom will be selected by Consolidated Uranium, consisting of Philip Williams and one other director from the existing CUR directors. The senior management team of the Company will include Philip Williams as Chief Executive Officer, Tim Gabruch as President, Darryl Clark as Executive Vice President Exploration & Development, Graham du Preez as Chief Financial Officer, Marty Tunney as Chief Operating Officer and Dan Brisbin as Vice President, Exploration. Following completion of the merger, the IsoEnergy Shares will continue to trade on the TSXV. The CUR Shares will be de-listed from the TSXV following closing of the merger.

The transaction is approved by the Uranium and IsoEnergy board of directors and subject to Uranium Shareholders approval. The transaction is also subject to Ontario Superior Court of Justice approval, regulatory approvals, including, but not limited to, the TSX Venture Exchange approval, The Spin-Out Transaction shall have been completed and the satisfaction of certain other closing conditions customary for transactions of this nature. The CUR will hold the Meeting on November 28, 2023, at 10:00 a.m. for the approval of merger. The transaction is expected to close in the forth quarter of 2023. The transaction is expected to close during December 2023. As of November 28, 2023, transaction is expected to close on early December 2023. As of November 28, 2023, Consolidated Uranium Inc. shareholders approved the transaction. Consolidated Uranium Inc. will seek a final order approving the Arrangement from the Ontario Superior Court of Justice (Commercial List) on November 30, 2023. As of December 4, 2023, the Ontario Superior Court of Justice has today also granted the final order authorizing completion of the Arrangement and IsoEnergy also announced that it has received written notice from the Committee on Foreign Investment in the United States that it has concluded its review of the Arrangement and determined that there are no unresolved national security concerns with respect to the Arrangement. Closing of the Arrangement remains subject to satisfaction of certain customary closing conditions, including stock exchange and regulatory approvals. Subject to the satisfaction of these closing conditions, the parties currently expect to complete the Arrangement on or around December 5, 2023.

TD Securities Inc. Eight Capital acted as financial advisor and fairness opinion provider to Consolidated Uranium. Canaccord Genuity Corp acted as financial advisor to IsoEnergy. Steven D. Bennett of Stikeman Elliott LLP acted as legal advisor to IsoEnergy. Jamie Litchen, Tera Li Parizeau, Davit Akman and Carla Potter of Cassels Brock & Blackwel acted as legal advisor to Consolidated Uranium. The transaction is accretive to net asset value.