08:17 AM EST, 01/15/2025 (MT Newswires) -- IsoEnergy ( ISENF ) said on Wednesday that it exercised its put option under the terms of its joint venture with Purepoint Uranium ( PTUUF ) .

As part of the deal, Purepoint bought 10% of IsoEnergy's ( ISENF ) stake in the joint venture - which is now a 50/50 venture that is advancing ten prospective uranium projects spanning over 98,000 hectares in the eastern Athabasca Basin - for 4 million Purepoint shares. IsoEnergy's ( ISENF ) ownership in Purepoint increased to 11.4% following the exercise of the put option with IsoEnergy ( ISENF ).

"By increasing our equity position in Purepoint, IsoEnergy ( ISENF ) enhances its exposure to a diverse and strategically valuable portfolio, with a view to ensuring we are positioned to capitalize on their broader exploration successes," said IsoEnergy ( ISENF ) Chief Executive Philip Williams. "IsoEnergy's ( ISENF ) equity portfolio is now worth approximately $40 million including positions in Nexgen Energy Ltd., Premier American Uranium Inc., Atha Energy Corp., Jaguar Uranium Corp., Future Fuels Inc., and Purepoint Uranium Group Inc. ( PTUUF )