Sachem Cove Announces Shift in Holdings of Premier American Uranium Inc. Shares

Significant Update on Sachem Cove's Holdings

On November 10, 2026, Sachem Cove Special Opportunities Fund, LP (referred to as "Sachem Cove") disclosed its recent actions regarding its beneficial ownership of common shares in Premier American Uranium Inc. (commonly abbreviated as "PUR"). This announcement was issued in compliance with National Instrument 62-103, which lays out the guidelines for early warning systems and related take-over bids and insider reporting issues, known as NI 62-103.

Transaction Overview

Sachem Cove entered into a strategic agreement with IsoEnergy Ltd. ("ISO") on November 9, 2026. The agreement involved the sale of 13,642,775 common shares of PUR to ISO. In exchange, Sachem Cove received 387,491 common shares of ISO, valued at a deemed price of $11.763 per share. This brings the total consideration for the transaction to approximately $4,558,056.63. The completion of this agreement is contingent upon the satisfaction of specific standard closing conditions, including the approval from the Toronto Stock Exchange concerning the issuance of the ISO shares.

Ownership Changes

Prior to this transaction, Sachem Cove's ownership in PUR totaled to 13,642,775 shares and warrants allowing for the acquisition of an additional 266,667 shares. This comprised roughly 14.62% of the total outstanding shares of PUR, based on the current figure of 95,641,576 outstanding shares.

After the transaction is finalized, Sachem Cove will no longer hold any shares in PUR, resulting in a drastic reduction of its ownership percentage. It will have 0% ownership of the outstanding shares on a non-diluted basis, and approximately 0.27% on a partially-diluted basis, assuming all warrants are exercised. Essentially, the beneficial ownership held by Sachem Cove will dip below the 10% threshold for the total issued shares of PUR.

Strategic Intent

Sachem Cove's decisions regarding the securities of PUR were primarily investment-driven, and while no immediate plans for future actions are in place, the firm retains flexibility. It may consider acquiring more securities or disposing of some, depending on various factors. These factors could include market dynamics, the overall economic climate, trading activity in PUR's stock, PUR’s business health, and future prospects.

The recent shift in holdings is a significant development for Sachem Cove, reflecting its ongoing strategic evaluations in the uranium sector. The company will ensure compliance with the filing requirements set by NI 62-103, thus further maintaining transparency within the financial markets.

Those interested in more detailed information about this transaction and its implications are encouraged to check the early warning report filed by Sachem Cove, which will be accessible under PUR's profile on SEDAR+ at www.sedarplus.ca.

Overall, this notable adjustment in share ownership not only marks a pivotal moment for Sachem Cove but also positions them for potential future opportunities depending on prevailing market conditions. Investors and analysts alike will be closely observing the developments that follow this significant investment transaction.