Radnostix and NANO Nuclear Energy Collaborate for NRC License Transfer Proposal with County Approval

Radnostix and NANO Nuclear Energy Collaborate for NRC License Transfer Proposal

Radnostix, Inc. (previously known as International Isotopes Inc.) has made significant strides in the nuclear energy sector by announcing a joint submission of a Letter of Intent to the U.S. Nuclear Regulatory Commission (NRC). This initiative seeks the NRC's approval for the transfer of ownership pertaining to Material License SUB-1011. The completion of this transfer is linked to their recent asset purchase agreement, which marks a pivotal moment for both companies.

Key Developments

The joint submission was prompted by the favorable decision from the Lea County Board of County Commissioners, which recently passed a resolution to support the transaction. This move allows NANO Nuclear to pursue the potential transfer of around 640 acres of land previously associated with Radnostix's DUF6 deconversion project. The resolution essentially paves the way for negotiations between NANO Nuclear, Lea County, and Radnostix regarding site arrangements.

The Letter of Intent is seen as a crucial milestone in the transfer of control of License SUB-1011 from Radnostix and its subsidiary, International Isotopes Fluorine Products, Inc., to NANO Nuclear's subsidiary, HALEU Energy Fuel Inc. The NRC's consent is considered essential for the consummation of the Asset Purchase Agreement, initiated on September 28, 2026. The successful completion of this procedure is expected to catapult NANO Nuclear's domestic nuclear fuel-cycle capabilities significantly forward.

Statements from Company Executives

James Walker, the CEO of NANO Nuclear Energy, expressed optimism regarding the progress of the transaction, stating that their submission marks a vital step toward finalizing the strategic dealings between the companies. He highlighted that they are on course to reinforce NANO Nuclear's position within the U.S. nuclear fuel cycle. Likewise, Shahe Bagerdjian, the CEO of Radnostix, echoed this sentiment, indicating that the submission underscores the momentum needed to complete the transfer in alignment with their timelines.

Future Steps in the Transaction

Looking ahead, both companies are targeting the closure of the Asset Purchase Agreement within approximately 90 to 120 days. However, final approval from the NRC to transfer License SUB-1011 is paramount, along with the establishment of site arrangements in collaboration with Lea County. Additionally, environmental assessments and other customary closing conditions must be satisfied.

Under the terms established in the purchase agreement, NANO Nuclear will pay $9.5 million in cash—accounting for a previously made $0.5 million deposit—and NANO's common stock valued at $4 million. This structured financial arrangement is indicative of both companies' commitment to advancing their goals in the nuclear sector.

About Radnostix

Radnostix, Inc. is a significant player in the field of radioisotope technology, founded in 1995 and operating from Idaho Falls, ID. The organization produces a diverse range of products, including sodium iodide I-131 radiopharmaceutical products and various drug products for external clients. They also supply standard calibration materials for nuclear pharmacies and imaging systems, highlighting their comprehensive approach to the radiopharmaceutical market.

With the acquisition and license transfer in motion, Radnostix looks forward to focusing on its core business of radioisotope technologies, while NANO Nuclear aims to scale up its operations within the nuclear energy landscape. The implications of these developments not only promise enhanced functionality in nuclear energy cycles but also signify a commitment to innovation in a critical sector.

For more information about Radnostix and their offerings, visit www.radnostix.com.