IsoEnergy stock rises after agreement to acquire Toro Energy

Investing.com -- IsoEnergy Ltd. (NYSE:ISOU) stock gained 4.8% on Monday after the company announced it has entered into an agreement to acquire Australian uranium developer Toro Energy Ltd. (ASX:TOE) in an all-stock transaction.

Under the terms of the deal, Toro shareholders will receive 0.036 IsoEnergy shares for each Toro share held, representing a premium of 79.7% to Toro’s last closing price. The transaction values Toro at approximately A$75 million (C$68.1 million) on a fully-diluted basis, with existing IsoEnergy and Toro shareholders owning approximately 92.9% and 7.1% of the combined company, respectively.

The acquisition will add Toro’s Wiluna Uranium Project in Western Australia to IsoEnergy’s portfolio, which already includes past-producing U.S. mines, the Hurricane deposit in Canada’s Athabasca Basin, and various development assets across North America and Australia.

"The acquisition of Toro Energy marks another important step in advancing IsoEnergy’s strategy to build a globally diversified, development-ready uranium platform," said Philip Williams, CEO and Director of IsoEnergy. "The Wiluna Uranium Project strengthens our portfolio with a large, previously permitted asset in a top-tier jurisdiction at a time when global nuclear demand is accelerating."

The combined entity will hold NI 43-101 compliant resources of 55.2 million pounds of U3O8 in the measured and indicated categories and 4.9 million pounds in the inferred category, along with additional JORC-compliant resources.

The transaction is expected to close in the first half of 2026, subject to various approvals including those from Toro shareholders, Australian and North American regulators, and court approval.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.