IsoEnergy Ltd. (ISOU), Monday announced that it has entered into an equity distribution agreement with Virtu Canada Corp. and Virtu Americas LLC to distribute upto C$75 million of common shares in the capital of the company.
CEO Philip Williams expects the program to work as an additional financing tool, enhancing the overall financial flexibility of the company.
The company intends to use the proceeds from the program for general corporate purposes, such as funding of corporate and project overhead expenses, financing of capital expenditures, repayment of indebtedness, technical studies and exploration in the United States and Australia, and additions to working capital.
ISOU closed at $7.45, up 0.27 percent on the New York Stock Exchange American on May 30.
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