Radnostix, Inc. (formerly International Isotopes Inc.) (OTCQB: INIS) ("Radnostix" or the "Company") today announced that they have jointly submitted a Letter of Intent to the U.S. Nuclear Regulatory Commission (NRC) seeking the NRC's consent for the transfer of ownership of NRC Material License SUB-1011 in connection with the previously announced asset purchase agreement.
The joint Letter of Intent requests NRC consent under 10 CFR 40.46 for the transfer of control of License SUB-1011 from Radnostix and its subsidiary International Isotopes Fluorine Products, Inc. to NANO Nuclear's wholly owned subsidiary, HALEU Energy Fuel Inc. The parties expect to follow the Letter of Intent with a formal consent application. NRC consent is a key closing condition of the Asset Purchase Agreement entered into on September 28, 2026.
This NRC step follows the Lea County Board of County Commissioners' unanimous passage of Resolution No. 26-SEP-229R. That resolution authorized a Letter of Intent between Lea County and NANO Nuclear for the potential transfer of approximately 640 acres in Section 27, Township 18 South, Range 36 East, N.M.P.M. (the former International Isotopes DUF6 deconversion project site).
The joint NRC Letter of Intent and the County property LOI are linked milestones supporting the transaction under which HALEU Energy Fuel Inc. would acquire the DUF6 deconversion and fluorine extraction assets, including License SUB-1011. The assets are expected to accelerate NANO Nuclear's domestic nuclear fuel-cycle capabilities by several years while allowing Radnostix to focus on radioisotope technologies.
The Hobbs Site comprises approximately 640 acres and is associated with the Company's previously planned depleted uranium hexafluoride ("DUF6") deconversion and fluorine extraction facility and U.S. Nuclear Regulatory Commission ("NRC") Material License SUB-1011 that the Company, and its wholly owned subsidiary and International Isotopes Fluorine Products, Inc. (IIFP), has agreed to sell to NANO Nuclear and its wholly owned subsidiary, HALEU Energy Fuel Inc. ("HEF". The County resolution does not itself complete the property transfer; it authorizes the LOI and provides a framework for NANO Nuclear, Lea County, and Radnostix to continue negotiating definitive site arrangements, subject to required approvals, documentation and remaining closing conditions.