Radnostix Inc. and American Fuel Resources Announce Mutual Termination of DUF6 Asset Purchase Agreement
On March 16, 2026, Radnostix, Inc., formerly known as International Isotopes, Inc. (symbol: RNX), announced that it has mutually terminated its Asset Purchase Agreement (APA) with American Fuel Resources, LLC (AFR). This decision marks a significant moment for Radnostix as it regains control of crucial assets, specifically related to its deconversion and fluorine extraction facility, known as the DUF6 Plant. The APA, signed on February 8, 2024, included the sale of the DUF6 Plant’s assets along with certain liabilities that were expected to benefit both parties financially.
AFR had recently requested a one-year extension to finalize the purchase due to challenges in meeting the scheduled payments by the Outside Date of March 31, 2026. Although both parties were nearing completion of the Nuclear Regulatory Commission (NRC) consent process, it was ultimately decided to withdraw the application and end the agreement. According to Shahe Bagerdjian, CEO of Radnostix, the decision to terminate the APA was driven by a reassessment of the asset's value and the company's confidence in AFR’s ability to secure the necessary funding.
In their attempts to finalize the transaction, AFR had put down a non-refundable prepayment of $50,000 and made twelve additional non-refundable NRC extension fee payments totaling $120,000—indicating a serious intent to close the deal. The closing was conditional on the transfer of the NRC license and the purchased assets, including various licenses, patents, and agreements associated with the DUF6 Plant.
After careful consideration, Radnostix’s management concluded it was in the best interest of their shareholders to terminate the APA. The company believes that the DUF6 assets have appreciated in value since entering into the agreement, especially given the current resurgence in large-scale nuclear energy projects, including domestic uranium enrichment initiatives. Bagerdjian expressed gratitude toward AFR for their diligent efforts throughout the transaction discussions, emphasizing the company’s eagerness to explore new opportunities regarding the DUF6 assets in the coming months.
With the APA now terminated, Radnostix will not receive the expected purchase price, nor will it realize the anticipated financial benefits initially projected from the sale. This includes the loss of potential funding for long-term obligations and operational flexibility that the proceeds would have provided. The company had previously indicated in their Quarterly Report on Form 10-Q for the third quarter of 2025 the expected financial and operational implications of this APA, which no longer hold since the agreement’s cancellation.
Radnostix, established in 1995 and headquartered in Idaho Falls, Idaho, is experienced in manufacturing a range of radioisotope products and has been a fulfilling partner in various sectors. The firm specializes in products used in nuclear medicine, providing essential pharmaceuticals, calibration standards, and empirical support for SPECT/PET imaging systems.
The decision to terminate this deal opens new opportunities for the company, allowing Radnostix to potentially reposition its DUF6 assets to better serve their existing and future business goals. As the nuclear energy sector continues to evolve, the management at Radnostix is committed to enhancing value for its shareholders while navigating through this changing landscape. Moving forward, Radnostix will thoroughly assess all available options for the DUF6 assets and make strategic decisions that align with their long-term vision and operational strategy.
AFR had recently requested a one-year extension to finalize the purchase due to challenges in meeting the scheduled payments by the Outside Date of March 31, 2026. Although both parties were nearing completion of the Nuclear Regulatory Commission (NRC) consent process, it was ultimately decided to withdraw the application and end the agreement. According to Shahe Bagerdjian, CEO of Radnostix, the decision to terminate the APA was driven by a reassessment of the asset's value and the company's confidence in AFR’s ability to secure the necessary funding.
In their attempts to finalize the transaction, AFR had put down a non-refundable prepayment of $50,000 and made twelve additional non-refundable NRC extension fee payments totaling $120,000—indicating a serious intent to close the deal. The closing was conditional on the transfer of the NRC license and the purchased assets, including various licenses, patents, and agreements associated with the DUF6 Plant.
After careful consideration, Radnostix’s management concluded it was in the best interest of their shareholders to terminate the APA. The company believes that the DUF6 assets have appreciated in value since entering into the agreement, especially given the current resurgence in large-scale nuclear energy projects, including domestic uranium enrichment initiatives. Bagerdjian expressed gratitude toward AFR for their diligent efforts throughout the transaction discussions, emphasizing the company’s eagerness to explore new opportunities regarding the DUF6 assets in the coming months.
With the APA now terminated, Radnostix will not receive the expected purchase price, nor will it realize the anticipated financial benefits initially projected from the sale. This includes the loss of potential funding for long-term obligations and operational flexibility that the proceeds would have provided. The company had previously indicated in their Quarterly Report on Form 10-Q for the third quarter of 2025 the expected financial and operational implications of this APA, which no longer hold since the agreement’s cancellation.
Radnostix, established in 1995 and headquartered in Idaho Falls, Idaho, is experienced in manufacturing a range of radioisotope products and has been a fulfilling partner in various sectors. The firm specializes in products used in nuclear medicine, providing essential pharmaceuticals, calibration standards, and empirical support for SPECT/PET imaging systems.
The decision to terminate this deal opens new opportunities for the company, allowing Radnostix to potentially reposition its DUF6 assets to better serve their existing and future business goals. As the nuclear energy sector continues to evolve, the management at Radnostix is committed to enhancing value for its shareholders while navigating through this changing landscape. Moving forward, Radnostix will thoroughly assess all available options for the DUF6 assets and make strategic decisions that align with their long-term vision and operational strategy.
Topics Business Technology）
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