08:20 AM EDT, 07/22/2024 (MT Newswires) -- IsoEnergy ( ISENF ) said on Monday that it completed the sale of its uranium portfolio in Argentina to privately held Jaguar Uranium.

IsoEnergy ( ISENF ) sold its entire stake in its subsidiary that owns the Laguna Salada and Huemul projects located in Argentina's Mendoza province. IsoEnergy ( ISENF ) will receive at least US$10 million in class A shares of Jaguar and will also acquire net smelter royalties on the two projects.

According to IsoEnergy ( ISENF ), the company has been focused on advancing the Laroque East project in Canada's Athabasca Basin and restarting its past-producing uranium mines in Utah after its merger with Consolidated Uranium last year.

IsoEnergy ( ISENF ) noted that Jaguar intends to pursue a listing on North America-based stock exchange in the coming months.

"By taking equity as consideration, IsoEnergy ( ISENF ) remains exposed to the upside in Jaguar shares and we look forward to supporting the company and its accomplished leadership team going forward," IsoEnergy ( ISENF ) CEO Philip Williams said.

IsoEnergy's ( ISENF ) share price fell 2.2% on Friday to $3.52 on the TSXV.