International Isotopes Inc
OTC Bulletin Board : INIS

International Isotopes Inc

February 25, 2011 19:40 ET

International Isotopes Announces Public Offering of Common Stock

IDAHO FALLS, IDAHO--(Marketwire - Feb. 25, 2011) - International Isotopes Inc. (OTCBB:INIS), a leading manufacturer of nuclear medicine products, announced today that it has commenced a marketed public offering of common stock designed to raise proceeds of between Cdn.$20 million and Cdn.$30 million. The offering will be conducted as a public offering pursuant to an effective shelf registration statement (the "Registration Statement") under the Securities Act of 1933, as amended, and, in Canada, pursuant to a draft prospectus supplement filed today with certain of the Canadian securities regulatory authorities to a base shelf prospectus dated June 30, 2010 (the "Canadian Prospectus"). Cormark Securities Inc. (through its broker-dealer affiliate, Cormark Securities (USA) Limited, in the United States) is acting as the sole book-running manager for the offering. The number of shares to be sold and the offering price have not yet been determined and an underwriting agreement has not been entered into.

The completion of the offering will be subject to customary conditions and to the approval by the TSX Venture Exchange of International Isotopes' listing application.

International Isotopes intends to use the net proceeds of the offering to fund continued licensing activities, formal design, engineering and component testing related to its proposed depleted UF6 de-conversion and FEP facility, for certain capital expenditures related to its de-conversion activities and for general working capital purposes.

Information about the offering is available in the preliminary prospectus supplement filed today with the Securities and Exchange Commission and the Registration Statement which are available on EDGAR at www.sec.gov and in the draft prospectus supplement filed today with the securities regulatory authorities in the Provinces of British Columbia, Alberta, Manitoba and Ontario and the Canadian Prospectus which will be available on SEDAR at www.sedar.com. Alternatively, copies of the preliminary prospectus supplement and/or draft prospectus supplement may be obtained by contacting Cormark Securities Inc., Attn: Susan Samila-Moroz, 200 Bay Street, Suite 2800, Toronto, ON M5K 1E7, email your request to ssmoroz@cormark.com or fax your request to 416-943-6496.

The offering of these securities is being made solely by means of the preliminary prospectus supplement and the accompanying Registration Statement and the draft prospectus supplement and the accompanying Canadian Prospectus.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About International Isotopes Inc.

International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards, high purity fluoride gases, and a variety of cobalt-60 products such as teletherapy sources. The Company also provides a wide selection of radioisotopes and radiochemicals for medical devices, calibration, clinical research, life sciences, and industrial applications and provides a host of analytical, measurement, recycling, and processing services on a contract basis to clients. The Company is in the licensing and design phase of its planned environmentally friendly, green technology, uranium de-conversion and fluorine extraction processing facility located near Hobbs, New Mexico.

International Isotopes Inc. Safe Harbor Statement

Certain statements in this press release or in other documents filed by the Company are "forward-looking statements" within the meaning of applicable United States and Canadian securities laws, including statements with respect to its proposed public offering of common stock and its planned depleted uranium de-conversion and fluorine extraction facility. In particular, statements regarding the expected proceeds of the public offering, the progress on the Company's depleted uranium de-conversion and fluorine extraction processing facility and the time periods for the design and construction of the depleted uranium de-conversion and fluorine extraction processing facility are forward looking. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties, and other factors that could cause actual results, performance or achievements of International Isotopes, Inc. to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in International Isotopes, Inc.'s filings with the Securities and Exchange Commission at www.sec.gov and with certain of the Canadian securities regulatory authorities at www.sedar.com, including our annual report on Form 10-K for the year ending December 31, 2009. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • International Isotopes, Inc.
    Laurie McKenzie-Carter
    Chief Financial Officer
    208.524.5300