Each one in plain English, with the numbers worked through for a shareholder.
19 Aug 2026business combination● NeutralMajor
The DISA Uranium deal announced August 4 has closed. IsoEnergy handed over its Utah uranium mines (Tony M, Daneros, Rim, Sage Plain, Flatiron) for 1,677,350 DISA Uranium shares and invested US$33M in DISA Uranium's US$105M private placement, which closed at the same time. IsoEnergy now owns about 33% on a fully diluted basis and is the largest shareholder, with two of seven board seats (Richard Patricio and Philip Williams). This resolves the pending transaction, and the Utah assets are now a minority stake rather than wholly owned. The release does not mention the Energy Fuels toll milling arrangement.
IsoEnergy signed a definitive agreement to contribute its Utah uranium portfolio (Tony M, Daneros, Rim, Sage Plain and Flatiron) to a new company, DISA Uranium, formed with DISA Technologies, in exchange for 1,677,350 shares. IsoEnergy would own about 33% fully diluted and be the largest shareholder, and has agreed to put in US$33M of a US$105M private placement. The deal implies about US$505M pro forma equity value for DISA Uranium. It is subject to conditions including a DISA spin-out and closing of the financing; the rest of the conditions are cut off in the filing. This changes the standby Utah mines from wholly owned to a minority stake, and the Energy Fuels toll milling arrangement is not addressed in the text provided.
IsoEnergy released its sustainability report for 2025, reporting zero reportable environmental incidents, 46% of Canadian exploration spending directed to Indigenous companies and contractors, and completion of a two-year water baseline program at Larocque East. It is a routine report with no financial or transaction impact, and it follows the sustainability work noted as planned for 2025.
Summer drilling at Larocque East resumed after a temporary suspension and precautionary evacuation due to nearby wildfires (per a June 29, 2026 release). Four of 20 planned holes were done and all hit mineralization. LE26-250, about 75 m east of winter hole LE26-248, hit 11,075 cps over 3.5 m, including 43,160 cps over 0.5 m. These are hand-held core readings, not lab grades, so assays are pending. The company says it remains on track for the ~8,000 m program. It also added 61,830 ha by staking in 2026 and optioned 31,293 ha from GEM Oil Inc. to extend Larocque West. This continues the June 11 summer program and the May 12 winter results.
IsoEnergy completed its acquisition of Toro Energy, the Australian company announced in October 2025. Toro holders approved on June 9, 2026, the Federal Court on June 15, and the deal took effect June 16. Toro holders received 0.036 IsoEnergy share per Toro share, about 4,359,568 new IsoEnergy shares in total, which dilutes existing holders. IsoEnergy now owns the Wiluna Uranium Project, and Toro is expected to be removed from the ASX on or about June 26, 2026.
IsoEnergy started its 2026 summer drilling at Larocque East: about 8,000 m in up to 20 holes, following up the high-grade winter results (4.21% U3O8 over 3.5 m in LE26-248) along the Hurricane South Trend. Summer work is also planned on four early-stage Athabasca projects and western Larocque East, including airborne surveys at Trident, Ranger and western Larocque East and field work at Evergreen and East Rim. This carries out the plan announced May 12; the release contains no new drill results.
Lab assays confirmed the April radioactivity readings: hole LE26-248 returned 4.21% U3O8 over 3.5 m, including 11.61% over 1.0 m, in a part of Hurricane previously modelled as low-grade. Other intercepts were 2.75% over 0.5 m in LE26-234 and 1.75% over 0.5 m in LE26-243. A summer program of about 8,000 m in 20 holes is planned, and the company says its operations are not currently affected by northern Saskatchewan flooding. This resolves the pending winter assays; no resource update is stated.
Winter drilling at Larocque East, expanded from 13 holes (5,200 m) to 17 holes (6,804 m), found strongly elevated radioactivity in hole LE26-248 on the Hurricane South Trend: 30,050 counts per second over 1.0 m, within 11,275 cps over 3.5 m. Other holes up to about 560 m east also showed elevated readings. These are hand-held core readings, not lab uranium grades; assays were still pending. This follows the January start of winter drilling and the Dec 2025 LE25-202 follow-up.
The NexGen private placement closed: IsoEnergy issued 1,666,667 shares at C$15.00 to NexGen Energy for C$25,000,005 gross, so NexGen can keep its ownership at about 30% after the January bought deal. This confirms the placement flagged on Jan 21 and Jan 27; the shares carry a four-month hold and no fee was paid. Proceeds are for developing and exploring its properties and general corporate purposes, and the new shares dilute holders other than NexGen.
What it means for a shareholder
1.7m new shares at C$15.00 to raise about C$25.0m. That's 2.9% dilution: every existing holder's slice gets 2.9% smaller. If you held C$1,000 of shares (67 at the issue price), your slice goes from 0.000121% to 0.000118% of the company. To keep it you'd need 2 more shares - about C$30 at the issue price.
27 Jan 2026capital raising announcement● NeutralMajor
The bought deal closed with 3,833,410 shares sold at C$15.00 for C$57,501,150 gross, including full exercise of the over-allotment option; underwriters were led by Stifel Canada, Canaccord Genuity and Jett Capital Advisors. The NexGen private placement was expected to close on or about the same day. This completes the financing announced January 20-21 and dilutes existing holders.
What it means for a shareholder
3.8m new shares at C$15.00 to raise about C$57.5m. That's 6.5% dilution: every existing holder's slice gets 6.5% smaller. If you held C$1,000 of shares (67 at the issue price), your slice goes from 0.000121% to 0.000113% of the company. To keep it you'd need 5 more shares - about C$75 at the issue price.
21 Jan 2026capital raising announcement● NeutralMajor
IsoEnergy announced a bought deal to sell 3,333,400 shares at C$15.00 for C$50,001,000 gross (up to C$57,501,150 with the over-allotment option), closing around January 27, 2026. It also plans a private placement of up to 1,666,666 shares at C$15.00 (about C$25M) with NexGen so NexGen can keep its roughly 30% stake. Proceeds are for development and exploration of its properties and general corporate purposes; new shares dilute holders other than NexGen.
What it means for a shareholder
3.3m new shares at C$15.00 to raise about C$50.0m. That's 5.7% dilution: every existing holder's slice gets 5.7% smaller. If you held C$1,000 of shares (67 at the issue price), your slice goes from 0.000121% to 0.000114% of the company. To keep it you'd need 4 more shares - about C$60 at the issue price.
IsoEnergy began its 2026 winter drilling at Larocque East: about 5,200 m in up to 13 holes, testing resource expansion on the North and South trends beside the Hurricane deposit and greenfield targets up to 3 km east, following up the LE25-202 result. This carries out the winter plan flagged in the December 3 update; the release contains no new drill results.
IsoEnergy bought 2,135,760 shares and warrants over 2,708,627 more shares in Premier American Uranium (PUR), a company it co-founded in late 2023, in exchange for issuing 100,000 of its own shares at a deemed C$11.58 (C$1,158,000 total). Its stake rose from about 6.27% to about 9.42% of PUR's shares (non-diluted, before conversion of PUR's compressed shares); the filing says the holding is for investment purposes. This is a small equity investment paid in shares, not an acquisition of control, and slightly dilutes IsoEnergy holders.
IsoEnergy reported 2025 Athabasca Basin drilling: summer drilling at Larocque East was 9,561 m in 22 holes (15,597 m in 39 holes for the year), plus four holes (3,593 m) at Hawk. Lab results confirmed earlier radioactivity readings, including 1.61% U3O8 over 0.5 m (and 1.71% over another 0.5 m) in LE25-207 and 1.05% U3O8 over 0.5 m in LE25-202, 2.8 km east, which the company calls its best result outside the Hurricane deposit area. Winter drilling of 5,200 m in 13 holes is planned, and Misty Urbatsch was appointed VP, Strategy and Commercial; many summer geochemistry results are still pending.
IsoEnergy agreed (scheme implementation deed) to acquire all of Toro Energy, an ASX-listed company that owns the Wiluna Uranium Project in Western Australia, by issuing 0.036 IsoEnergy share per Toro share. The deal implies about A$75.0 million (C$68.1 million) equity value, with existing IsoEnergy holders owning about 92.9% afterward, so they are diluted by about 7.1%. The deal is subject to conditions, and the implied value depends on IsoEnergy's share price. It adds to the Australian assets IsoEnergy already held.
IsoEnergy launched its 2025 Utah exploration program, starting with ten surface holes totalling 15,000 feet on its Flatiron claims, about seven miles northwest of the past-producing Tony M mine, plus continued field work at Daneros and Sage Plain. This is exploration of new targets alongside the standby mines; no restart decision or cost figure is given.
First lab assays from the Dorado joint venture's Nova Discovery came back: hole PG25-05 had 1.0 metre at 2.2% U3O8 including 0.3 metres at 5.4%, and PG25-04 had 0.6 metres at 1.0%. This confirms the earlier radioactivity readings with actual lab grades; the assays for PG25-07, which had the strongest readings, are still pending. Two holes at the Q2 target (PG25-01, PG25-02) did not explain their targets, and winter follow-up drilling is planned.
Drill hole PG25-07A at the Q48 target on the 50/50 Dorado joint venture with Purepoint stepped out about 70 metres northeast of the earlier hits and averaged 11,100 counts per second over 14.0 metres, peaking at 110,800 counts per second. These are downhole radioactivity probe readings, not lab assays; assays on the current program are pending. Ground conditions block further drilling northeast until winter, and the rig has moved to the Turaco target (up to four holes planned within the 5,400-metre 2025 program). This continues the Q48 drilling from the July 8 release.
IsoEnergy published its first Sustainability Report, covering 2024, reporting zero significant environmental incidents and Indigenous workforce shares of 63% at Matoush and 36% at Larocque East. It says it plans to develop a materiality assessment and company-wide sustainability policy in 2025; no financial or asset changes.
First drilling at the Q48 target on the 50/50 Dorado joint venture with Purepoint (operated by Purepoint) hit uranium mineralization in two holes, with downhole gamma readings up to 79,800 counts per second; these are radioactivity probe readings, not lab assay results. A third hole is underway, and about 5,400 metres in 18 holes are planned for 2025.
24 June 2025capital raising announcement● NeutralMajor
The bought deal closed, with 5,121,500 shares sold at C$10.00 for C$51,215,000, including a partial use of the over-allotment option. Existing insider NexGen Energy bought 1,200,000 of those shares and is expected to hold about 30.9% of the company afterward; the company relied on exemptions from valuation and minority approval requirements.
What it means for a shareholder
5.1m new shares at C$10.00 to raise about C$51.2m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
16 June 2025capital raising announcement● NeutralMajor
IsoEnergy agreed with underwriters to sell 5,000,000 new common shares at C$10.00 each for C$50,000,000, with an option for up to 750,000 more shares (C$7,500,000), closing expected around June 24, 2025. Proceeds are to fund development and exploration of its mineral properties and general corporate purposes. New shares mean existing holders are diluted.
What it means for a shareholder
5.0m new shares at C$10.00 to raise about C$50.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
4 June 2025capital raising announcement● NeutralMajor
IsoEnergy signed an agreement with Virtu Canada Corp. and Virtu Americas LLC to sell up to C$75,000,000 of new common shares over time at market prices (an 'at-the-market' program), following its May 5, 2025 NYSE American listing. Selling is optional and at the company's discretion, so any dilution depends on how much is actually sold; the company said it had C$46.1 million cash and C$35.1 million marketable securities at March 31, 2025.
