Radnostix, formerly International Isotopes, has agreed to divest its U.S. nuclear fuel processing assets to Nano Nuclear Energy in a deal valued at $13.5 million.
The assets include a U.S. Nuclear Regulatory Commission (NRC) license, patented technology, and related technical materials for depleted uranium hexafluoride deconversion and fluorine extraction at a planned facility in Lea County, NM. Nano will pay $9.5 million in cash and $4 million in its common stock at closing, which is expected in 90 to 120 days pending NRC consent to the license transfer and other approvals, Radnostix said.
Following the sale, Radnostix plans to use the proceeds to expand its four radioisotope technology product segments for medical and industrial applications.
