IsoEnergy Increases Strategic Holding in Premier American Uranium Inc.

The proposed purchase would increase IsoEnergy's non-diluted ownership of Premier American Uranium from approximately 7.8% to approximately 22.1%.

Rhea-AI Summary

IsoEnergy (NYSE American: ISOU; TSX: ISO) agreed to acquire 13,642,775 Premier American Uranium shares from Sachem Cove Opportunity Fund.

Consideration consists of 387,491 IsoEnergy common shares at a deemed price of $11.763 each, totaling $4,558,057. Closing remains subject to conditions, including Toronto Stock Exchange approval of the share issuance. Assuming completion, IsoEnergy would hold 21,136,376 PUR shares, increasing its ownership from approximately 7.8% to approximately 22.1% on a non-diluted basis. Its warrants to acquire 3,060,127 PUR shares would remain unchanged; ownership assuming their exercise would rise from approximately 10.7% to approximately 24.5%. PUR will issue no securities or receive proceeds from the transaction. IsoEnergy views the purchase as increasing its exposure to U.S. uranium development and in-situ recovery exploration, a method of extracting uranium underground.

Positive

• Minor point. Forward-looking: it has not happened yet and may not happen.Acquisition of 13,642,775 PUR shares would expand IsoEnergy's investment for $4,558,057 in share consideration.
• Minor point. Forward-looking: it has not happened yet and may not happen.PUR ownership would rise from approximately 7.8% to approximately 22.1% on a non-diluted basis.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Consideration of 387,491 IsoEnergy common shares at $11.763 each adds dilution for existing holders.
• Minor pointClosing remains subject to Toronto Stock Exchange approval of the IsoEnergy share issuance.

News Explained

The share-for-share purchase remains subject to closing conditions, including TSX approval; if completed, the 387,491 new IsoEnergy shares would dilute existing holders’ percentage ownership, absent offsetting changes.

Key Figures

PUR shares acquired: 13,642,775 common shares ISO shares issued: 387,491 common shares Deemed issue price: $11.763 per share +5 more

PUR shares acquired

13,642,775 common shares

Shares held by Sachem Cove

ISO shares issued

387,491 common shares

Consideration for the PUR shares

Deemed issue price

$11.763 per share

Price assigned to the ISO shares

Aggregate consideration

$4,558,057

For the share acquisition

PUR ownership before transaction

7.8% non-diluted; 10.7% partially diluted

Immediately before completion

PUR ownership after transaction

22.1% non-diluted; 24.5% partially diluted

Assuming completion

DISA Uranium investment in PUR

US$5 million

Previously completed strategic investment cited in the announcement

Premium on DISA Uranium investment

41.5%

Versus PUR's closing share price on September 14, 2026

Key Terms

subscription receipts, warrants, non-diluted basis, partially-diluted basis, +1 more

5 terms

subscription receipts financial

"strategic investment by DISA Uranium Corporation in subscription receipts of PUR"

Subscription receipts are temporary securities sold to investors that act like a receipt for future shares or cash once certain conditions in a financing or acquisition are met; until those conditions are satisfied, the funds are held in trust. Think of them as a ticket you buy today that will convert into the actual product later or get you a refund if the event doesn’t happen. They matter to investors because they provide a way to participate in a deal now while limiting immediate ownership changes and risk until the outcome is confirmed.

warrants financial

"and warrants to acquire 3,060,127 PUR Shares"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

non-diluted basis financial

"on a non-diluted basis and approximately 10.7%"

Non-diluted basis describes ownership percentages or per-share figures calculated using only the company’s currently outstanding shares, ignoring any potential future shares from options, warrants, convertibles or planned issuances. Investors use it to see the present snapshot of claims or earnings per share as if the pie’s size won’t change; it’s like measuring each person’s slice today without accounting for guests who might later get slices.

partially-diluted basis financial

"on a partially-diluted basis assuming exercise of all of the warrants"

A partially-diluted basis is a way of counting a company’s shares that includes currently outstanding shares plus certain likely additional shares from things like vested options, warrants, and convertible securities, but excludes more speculative or unissued items. For investors it gives a more realistic view of ownership stakes and per-share figures — like earnings per share — by showing dilution that is probable today, much as counting people with purchased tickets (but not those who might buy later) gives a clearer sense of how full a theater really is.

early warning report regulatory

"requires an early warning report to be filed with the applicable securities regulators"

An early warning report is a regulatory filing that publicly discloses when an investor or insider has taken a large or potentially influential position in a company's shares or plans significant actions with those shares. It matters to investors because it flags possible shifts in control, takeover attempts, or concentrated influence—like a neighborhood notice that someone is buying several houses on the block—helping readers reassess risk, valuation, and trading strategy.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, Nov. 10, 2026 /PRNewswire/ -- IsoEnergy Ltd. ("IsoEnergy", or the "Company") (NYSE American: ISOU) (TSX: ISO) is pleased to announce that it has agreed to acquire (the "Transaction") 13,642,775 common shares (the "PUR Shares") of Premier American Uranium Inc. ("PUR") held by Sachem Cover Opportunity Fund LP ("Sachem Cove") in consideration for the issuance of an aggregate of 387,491 common shares of the Company (the "ISO Shares"). The ISO Shares were issued at a deemed price of $11.763 per share, representing aggregate consideration of $4,558,057. Closing of the Transaction is subject to the satisfaction of certain customary closing conditions, including the approval of the Toronto Stock Exchange with respect to the issuance of the ISO Shares.

The Transaction will transfer Sachem Cove's position in PUR to IsoEnergy, a founding and strategic shareholder, further strengthening IsoEnergy's exposure to U.S. uranium development and in-situ recovery exploration. PUR will not issue any securities or receive any proceeds in connection with the Transaction. The increased investment follows PUR's completion of a US$5 million strategic investment by DISA Uranium Corporation ("DISA Uranium") in subscription receipts of PUR priced at C$0.75 each, representing a 41.5% premium to PUR's closing share price on September 14, 2026, the last trading day before that investment was announced. The subscription receipts will convert into PUR Common Shares upon satisfaction or waiver of the applicable escrow release conditions. IsoEnergy is also a significant shareholder of DISA Uranium (see PUR press releases dated September 15, 2026, and November 10, 2026).

Philip Williams, CEO and Director of IsoEnergy, commented, "We are pleased to increase our position as a strategic shareholder of PUR as it advances the Cebolleta uranium project in New Mexico and pursues significant discovery potential through ongoing ISR exploration in Wyoming. We believe the recent weakness in PUR's share price does not reflect the value of its development portfolio and exploration upside, creating an attractive opportunity to add to our holdings. This transaction further strengthens our exposure to the U.S. uranium sector which spans near-term production, development and exploration through our own portfolio and investments in DISA Uranium and PUR. DISA Uranium's recent investment in PUR further reinforces the strategic support behind PUR as it pursues an exciting next phase of growth."

Immediately prior to the completion of the Transaction, the Company owned an aggregate of 7,493,601 PUR Shares and warrants to acquire 3,060,127 PUR Shares, representing approximately 7.8% of the current outstanding PUR Shares on a non-diluted basis and approximately 10.7% of the current outstanding PUR Shares on a partially-diluted basis assuming exercise of all of the warrants held by the Company.

Assuming completion of the Transaction, the Company is deemed to own an aggregate of 21,136,376 PUR Shares and warrants to acquire an aggregate of 3,060,127 PUR Shares, representing approximately 22.1% of the current outstanding PUR Shares on a non-diluted basis and approximately 24.5% of the current outstanding PUR Shares on a partially-diluted basis assuming exercise of all of the warrants held by the Company.

The securities of PUR held by IsoEnergy are held for investment purposes. Although IsoEnergy has no current plans with respect to the securities, depending on market conditions, general economic and industry conditions, trading prices of PUR's securities, PUR's business, financial condition and prospects and/or other relevant factors, IsoEnergy may develop such plans or intentions in the future and, at such time, may from time to time acquire additional securities, dispose of some or all of the existing or additional securities or may continue to hold securities of PUR. The PUR Shares are being acquired by IsoEnergy pursuant to an exemption under Section 4.2 of National Instrument 62-104 – Take-Over Bids and Special Transactions.

This news release is issued pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires an early warning report to be filed with the applicable securities regulators containing additional information with respect to the foregoing matters. A copy of the early warning report of IsoEnergy will be available under PUR's profile on SEDAR+ at www.sedarplus.ca. IsoEnergy's registered office is located at 217 Queen Street West, Toronto, ON M5V 0R2.

About IsoEnergy Ltd.

IsoEnergy (NYSE American: ISOU; TSX: ISO) 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.

Cautionary Statement Regarding Forward-Looking Information

This press release contains forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (collectively, referred to as "forward-looking information"). Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, the anticipated ownership interest of IsoEnergy in PUR following completion of the Transaction; and the Company's potential plans with respect to the securities of PUR. Generally, but not always, forward-looking information and statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, the ability of the parties to satisfy, in a timely manner, the conditions to the completion of the Transaction, including the approval of Toronto Stock Exchange, assumptions that the results of planned exploration activities are as anticipated; the anticipated mineralization of IsoEnergy's projects being consistent with expectations and the potential benefits from such projects and any upside from such projects; the price of uranium; that general business and economic conditions will not change in a materially adverse manner; that financing will be available if and when needed and on reasonable terms; that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned activities will be available on reasonable terms and in a timely manner. Although IsoEnergy has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current views of IsoEnergy with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by IsoEnergy, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: negative operating cash flow and dependence on third party financing; uncertainty of additional financing; no known mineral reserves; aboriginal title and consultation issues; reliance on key management and other personnel; actual results of exploration activities being different than anticipated; changes in exploration programs based upon results; availability of third party contractors; availability of equipment and supplies; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena; other environmental risks; changes in laws and regulations; regulatory determinations and delays; stock market conditions generally; demand, supply and pricing for uranium; other risks associated with the mineral exploration industry, and general economic and political conditions in Canada, the United States and other jurisdictions where the Company conducts business. Other factors which could materially affect such forward-looking information are described in the risk factors in IsoEnergy's most recent annual management's discussion and analysis and annual information form and IsoEnergy's other filings with the securities regulators which are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. IsoEnergy does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

X: @IsoEnergyLtd
www.isoenergy.ca

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SOURCE IsoEnergy Ltd.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is IsoEnergy paying to increase its Premier American Uranium stake?

IsoEnergy agreed to acquire 13,642,775 PUR common shares from Sachem Cove Opportunity Fund in exchange for 387,491 IsoEnergy common shares. The deemed price is $11.763 per IsoEnergy share, representing aggregate consideration of $4,558,057. Closing remains conditional, including Toronto Stock Exchange approval of the share issuance.

How much of Premier American Uranium would IsoEnergy own after the transaction?

Assuming completion, IsoEnergy would own 21,136,376 PUR common shares, or approximately 22.1% on a non-diluted basis. It would also retain warrants to acquire 3,060,127 PUR shares. Assuming exercise of all its warrants, its ownership would be approximately 24.5% on a partially diluted basis.