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IsoEnergy Ltd. has entered into an equity distribution agreement with Virtu Canada Corp. and Virtu Americas LLC to establish an at-the-market (ATM) equity program, allowing the company to sell up to C$50,000,000 of common shares from time to time through the agents.
The company said the new distribution agreement replaces its previous at-the-market equity program announced on June 2, 2025, which has been terminated. IsoEnergy stated that the ATM program is intended to provide additional financial flexibility and an efficient supplemental capital markets tool, rather than to address any immediate capital needs.
In remarks accompanying the announcement, CEO Philip Williams said IsoEnergy has a cash position of $135.1 million and an equity portfolio of $52.6 million, adding that the program preserves optionality for potential future growth, strategic initiatives, and balance sheet strength.
Under the ATM program, any common shares sold will be offered through one or more of the following methods, at prevailing market prices or related prices, as applicable:
IsoEnergy said the volume and timing of any sales under the ATM program will be determined solely by the company, in accordance with the distribution agreement. The company noted that the TSX has conditionally approved the listing of the common shares that may be issued under the program, and that it has applied for authorization from the NYSE American for the listing of those shares.
The company is not obligated to sell any common shares under the ATM program. The program will remain effective until the earlier of (i) the issuance and sale of all common shares issuable under the program or (ii) the date the program is otherwise terminated under the distribution agreement.
IsoEnergy said it intends to use the net proceeds from the ATM program, if any, for general corporate purposes. The company indicated these uses may include:
The ATM program is being established through a Canadian prospectus supplement dated April 17, 2026 to the company’s short form base shelf prospectus dated January 13, 2026, and through a U.S. prospectus supplement dated April 17, 2026 to the company’s U.S. base prospectus included in its registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission on January 13, 2026.
The company said it has filed the registration statement and the U.S. prospectus supplement with the SEC. It also stated that investors should read the registration statement, the U.S. prospectus supplement, and related documents filed in Canada and the U.S. for more complete information.
IsoEnergy describes itself as a globally diversified uranium company with current and historical mineral resources in Canada, the U.S. and Australia at varying stages of development. The company said it is advancing its Larocque East project in Canada’s Athabasca basin, home to the Hurricane deposit, and that it also holds a portfolio of permitted past-producing uranium and vanadium mines in Utah with a toll milling arrangement in place with Energy Fuels, which are on standby for potential restart as market conditions permit.
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