International Isotopes, Inc. Expands Operational Footprint with Strategic Land Acquisition and Additional New Facility Lease Agreement
International Isotopes, Inc. Expands Operational Footprint with Strategic Land Acquisition and Additional New Facility Lease Agreement |
| [13-January-2025] |
IDAHO FALLS, Idaho, Jan. 13, 2025 /PRNewswire/ -- International Isotopes, Inc. (OTCQB: INIS) ("International Isotopes," "INIS" or the "Company"), is excited to announce a strategic expansion of its company footprint with the recent purchase of vacant land adjacent to its current Idaho Falls facility ("Building A"). The Company has also entered a lease agreement, with the right to purchase the property, for a second building, which is located directly across the street from their Idaho Falls facility ("Building B"). These two forward-looking additions address both immediate needs for current operations and developing a comprehensive growth plan for the company. The lease agreement for Building B will provide the Company with near-term capability to double operational capacity, which is expected to positively impact all existing business segments. The Company has also secured a First Right of Refusal to purchase Building B, which boasts an 8,600 sf facility on a 1.73 acre lot. The Company intends to be able to shed a short-term lease in the area to offset costs because of the lease of Building B. INIS formerly occupied Building B in 2014 for DUF4 processing. The acquired Building A lot provides over 1.77 acres, with no zoning restrictions in regard to building coverage and height, allowing the lot to accommodate a facility that exceeds 50,000 sf. The purchase was conducted on a mix of cash and seller's financing. The acquisition aligns with the company's long-term vision of expanding its capabilities, maximizing synergies and efficiencies, and positioning itself for success in a constantly evolving radiopharmaceuticals market. Shahe Bagerdjian, President & CEO of INIS, commented, "We need to always think a few steps forward and ensure we can seize on the opportunities that present themselves. These two additions will help us continue to strengthen our Theranostics, Nuclear Medicine, Cobalt, and Medical Devices segments. 2024 was an exciting time for our brands; RadQual, RadVent, EasyFill, and Radnostix, and I anticipate 2025 will be more transformative." For more information International Isotopes, please visit intisoid.com. About International Isotopes Inc. International Isotopes Inc. (INIS), established in 1995, with its headquarters in Idaho Falls, ID, USA, manufactures a wide range of radioisotope-focused products. INIS manufactures and supplies generic sodium iodide I-131 radio-pharmaceutical drug product for hyperthyroidism and thyroid cancer. INIS manufactures and distributes a complete line of calibration and reference standards for nuclear pharmacies and SPECT/PET imaging systems as well as industrial calibration standards under its RadQual brand. The Company also manufactures Cobalt-60 sealed source products and provides contract manufacturing of various drug products as well as radioisotope API supply for 3rd party theranostics clients. INIS recently launched a manufacturing joint venture with Alpha Nuclides, to bring INIS and RadQual products into China via Radnostix China. The Company is working to launch its RadVent brand of medical devices in 2025, which includes the Swirler® and Tru-Fit™ product lines. For more information, visit intisoid.com. International Isotopes Inc. Safe Harbor Statement Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to the Company's future growth expectations. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance, or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2023. Investors, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward- looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. International Isotopes Contact: info@intisoid.com Investor Relations Contact: David Drewitz
SOURCE International Isotopes Inc. | ||
Company Codes: OTC-PINK:INIS, OTC-BB:INIS, OTC-QB:INIS, OTC-QX:INIS, OtherOTC:INIS |
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