Radnostix and NANO Nuclear Energy Announce Joint Submission of Letter of Intent to NRC Seeking Consent for Transfer of License SUB-1011, Following Lea County Approval of Property LOI

IDAHO FALLS, Idaho, Oct. 19, 2026 /PRNewswire/ -- 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.

Management Comment
"Our joint submission to the NRC marks another important step toward completing this strategic transaction. With the process advancing as anticipated, we remain on track toward closing and positioning NANO Nuclear to further strengthen its role within the U.S. nuclear fuel cycle." said James Walker, Chief Executive Officer of NANO Nuclear Energy.

Shahe Bagerdjian, Chief Executive Officer of Radnostix, added: "The joint submission seeking NRC consent for the transfer of License SUB-1011, together with the County's Letter of Intent approval, provides clear momentum for getting to closing and remain confident we will get there within our agreed timelines."

Transaction and Site Transfer Next Steps
The parties continue to target a closing of the Asset Purchase Agreement in approximately 90 to 120 days. Closing remains subject to NRC consent to transfer Material License SUB-1011 to HEF, final site arrangements with Lea County, completion of environmental assessments satisfactory to HEF, other required approvals and consents, and other customary closing conditions. Under the previously announced asset purchase agreement, the agreed consideration comprises $9.5 million in cash, inclusive of the $0.5 million deposit previously funded by NANO Nuclear, and NANO common stock valued at $4.0 million using the contractual volume-weighted average price formula, in each case subject to the terms of the agreement. Radnostix, NANO Nuclear and the relevant governmental authorities are continuing to advance these workstreams; the timing of closing will depend on completion of the applicable regulatory, site and transaction conditions.

About Radnostix (formerly International Isotopes Inc.): Radnostix, Inc. (formerly International Isotopes Inc.) (INIS), established in 1995, with its headquarters in Idaho Falls, ID, USA, manufactures a wide range of radioisotope technology products. Radnostix manufactures and supplies generic sodium iodide I-131 radio-pharmaceutical drug product for hyperthyroidism and thyroid cancer, the contract manufacturing of various drug products as well as radioisotope API supply for 3rd party theranostics clients. Radnostix also 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. For more information, visit www.radnostix.com.

Radnostix, Inc. (formerly 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 but not limited to, statements regarding the Company's current expected financial impact from the Asset Purchase Agreement described herein, the estimated value of the DUF6 Plant and related assets, 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 Radnostix, 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, 2025. 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 Radnostix, Inc. and the Company undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Radnostix Contact:
[email protected]
radnostix.com

SOURCE International Isotopes Inc.