07:39 AM EST, 02/18/2025 (MT Newswires) -- IsoEnergy Ltd. ( ISENF ) and Future Fuels Inc. ( SRERF ) announced Tuesday completion of the previously announced transaction whereby Future Fuels ( SRERF ) acquired a 100% interest in IsoEnergy's ( ISENF ) Mountain Lake Project, comprised of mineral claims covering 5,625 hectares in the Hornby Bay Basin, Nunavut, Canada in exchange for common shares of Future Fuels ( SRERF ) and the grant of the Net Smelter Royalties to IsoEnergy ( ISENF ).

A statement noted the deal was completed in accordance with an asset purchase agreement dated November 13, 2024 between IsoEnergy ( ISENF ) and Future Fuels ( SRERF ). It said acquisition of the Mountain Lake Property adds key claims to Future Fuels' ( SRERF ) portfolio of holdings in the Hornby Bay Basin in Nunavut, lifting total holdings to over 342,064 hectares.

Prior to the completion of the transaction, IsoEnergy ( ISENF ) held no securities of Future Fuels ( SRERF ). Following completion, IsoEnergy ( ISENF ) beneficially owns 12.5 million upfront shares and is deemed to beneficially own the 2.5 million deferred shares, representing approximately 21.36% of the issued and outstanding common shares on a non-diluted basis (assuming the issuance of the deferred shares).