DISA Technologies Launches DISA Uranium Corporation, a New American Uranium Recovery and Production Platform

IsoEnergy Ltd. (ISO) announced on August 4, 2026, that it has entered into a definitive agreement to contribute its entire Utah uranium portfolio to a newly formed entity, DISA Uranium Corporation. The portfolio includes the Tony M, Daneros, Rim, Sage Plain, and Flatiron projects. In exchange for the assets, IsoEnergy will receive 1,677,350 shares of DISA Uranium common stock, granting it approximately 33% ownership on a fully diluted basis and board representation.

Parallel to the asset contribution, DISA Uranium secured a US$105 million private placement from a consortium of strategic investors, including Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs, and Veriten. IsoEnergy committed US$33 million of that total financing. The transaction implies a pro-forma fully diluted equity value for DISA Uranium of approximately US$505 million.

DISA Uranium holds exclusive rights to DISA Technologies’ High-Pressure Slurry Ablation (HPSA™) technology for uranium, vanadium, and mine-waste remediation. Preliminary tests at the Tony M project showed approximately 88% uranium recovery into approximately 22% of the original mass. Additionally, DISA Uranium holds the only U.S. Nuclear Regulatory Commission source-materials license authorizing recovery from legacy abandoned uranium mine waste across multiple sites.

The transaction is contingent on the spin-out of DISA’s non-uranium/vanadium business (DISA Tech, Inc.), the closing of the financing, and regulatory approvals, with closing expected in August 2026. IsoEnergy’s CEO, Philip Williams, stated that the creation of DISA Uranium “unlocks value of our U.S. portfolio, while retaining direct, meaningful exposure to the growth of a unique platform.”

IsoEnergy Ltd. (ISO) has agreed to contribute its Utah portfolio to a dedicated, well-capitalized entity equipped with proprietary processing technology and a unique regulatory license. The transaction values the assets at approximately US$199 million, comprising US$33 million in cash and a 33% equity stake in a company valued at US$505 million. This valuation compares favorably to IsoEnergy’s current market capitalization of approximately C$850 million, effectively surfacing value that was previously subdued within the larger company.

Under the terms of the deal, IsoEnergy will receive US$33 million directly, adding to its existing cash balance of C$122.9 million as of Q2-2026. This influx allows the company to deploy capital toward its Athabasca (Hurricane) and Australian (Wiluna) projects without further dilution. The transaction removes the capital requirements and operational execution risks associated with restarting the Utah mines from IsoEnergy’s direct scope, leaving it as a 33% passive holder with board influence.

The new entity, DISA Uranium, leverages HPSA™ technology and an NRC license, which serve as differentiators for processing legacy mine waste and potentially building the first new U.S. uranium mill in decades. Prior to this announcement, the market had valued the U.S. arm as a conventional past-producer with restart optionality, meaning these technology-enabled assets were not previously reflected in IsoEnergy’s valuation.

There was no prior indication of a strategic spin-out or large external financing for the U.S. assets. The most recent U.S.-related news, a bulk sample at Tony M in April 2026, only mentioned investigating slurry ablation as an ore-upgrading option. The formation of a new company with high-profile strategic investors and a significant cash target represents a clear positive surprise.

Post-closing, IsoEnergy’s balance sheet will include DISA Uranium shares, which could be worth approximately US$166 million on a pro-forma basis (33% of US$505 million). This represents a substantial proportion of IsoEnergy’s current equity. While the market will likely assign a discount for illiquidity, the mark-to-market potential remains material.

The transaction has not yet closed and is subject to conditions including the private placement closing and regulatory approvals. The valuation is based on a financing round rather than a traded market, meaning true liquidity and price discovery will only occur if DISA Uranium goes public. There is also a risk that the technology’s performance at scale may disappoint.

IsoEnergy Ltd. is a pre-revenue uranium exploration and development company with a diversified portfolio spanning Canada, the United States, and Australia. Its flagship asset is the Hurricane deposit at the Larocque East property in Saskatchewan’s Athabasca Basin. The deposit contains an indicated resource of 48.6 Mlbs U₃O₈ at an exceptionally high grade of 34.5% U₃O₈, plus 2.7 Mlbs Inferred. The deposit is shallow, located at approximately 325 m depth, and sits roughly 40 km northwest of the McClean Lake mill.

The company’s other key assets include a Utah portfolio, which is now being contributed to DISA Uranium. This portfolio consists of past-producing, permitted mines including Tony M, Daneros, Rim, Sage Plain, and Flatiron. Additionally, IsoEnergy holds the Wiluna uranium project in Western Australia, acquired through the Toro Energy acquisition in June 2026, as well as the Coles Hill site in Virginia, which holds a historical resource. The company also manages numerous Athabasca Basin exploration projects, including the Dorado joint venture with Purepoint, where a high-grade Nova discovery has been made with grades up to 8.1% U₃O₈.

The company is led by CEO Philip Williams, with a board that includes Richard Patricio and Leigh Curyer, among others.