INTERNATIONAL ISOTOPES INC. (OTCBB:INIS) Files An 8-K Entry into a Material Definitive Agreement

INTERNATIONAL ISOTOPES INC. (OTCBB:INIS) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01.

Entry into a Material Definitive Agreement.

The information set forth in Item 3.02 is incorporated by
reference in this Item 1.01.

Item 3.02.

Unregistered Sales of Equity Securities.

On May 12, 2017, International Isotopes Inc. (the Company)
completed the retirement of the majority of its outstanding 8%
convertible notes due in July 2017 (the Notes). to the terms of
previously announced amendments to the Notes, the Company retired
approximately $1.8 million of the Notes in early cash
redemptions, and $780,000 of the Notes were converted into an
aggregate of 780 shares of the Companys Series C Convertible
Redeemable Preferred Stock (the Series C Preferred Stock) and
warrants to purchase an aggregate of 2,925,000 shares of the
Companys common stock (the Class N Warrants). The Series C
Preferred Stock and the Class N Warrants were issued to the
exemptions from registration under Section 4(a)(2) and Regulation
D of the Securities Act of 1933, as amended.

As previously disclosed, the Series C Preferred Stock accrues
dividends at a rate of 6% per annum, payable annually on February
17 of each year, commencing on February 17, 2018. The Series C
Preferred Stock are convertible at the option of the holder at
any time into shares of the Company’s common stock at an initial
conversion price equal to $0.10 per share, subject to adjustment
as set forth in the Statement of Designation for the Series C
Preferred Stock. At any time after February 17, 2019, if the
volume-weighted average closing price of the Companys common
stock over a period of 90 consecutive trading days is greater
than $0.25 per share, the Company may redeem all or any portion
of the outstanding Series C Preferred Stock at the original
purchase price per share plus any accrued and unpaid dividends,
payable in shares of common stock. All outstanding shares of
Series C Preferred Stock will be redeemed by the Company on
February 17, 2022 at the original purchase price per share,
payable in cash or shares of common stock, at the option of the

The Class N Warrants are immediately exercisable at an exercise
price of $0.10 per share, subject to adjustment as set forth in
the warrant, and have a term of five years.

The foregoing description of the Class N Warrants does not
purport to be complete and is subject to, and is qualified in its
entirety by reference to, the full text of the Class N Warrant
attached hereto as Exhibits4.1 to this Current Report on Form8-K,
and is incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.





Form of Class N Warrant.


International Isotopes Inc. is a manufacturer of nuclear medicine calibration and reference standards, a range of products, including cobalt teletherapy sources, and a selection of radioisotopes and radiochemicals for medical research and clinical devices. Its segments include Nuclear Medicine Standards, Cobalt Products, Radiochemical Products, Fluorine Products, Radiological Services and Transportation. The Nuclear Medicine Standards segment manufactures sources and standards associated with Single Photon Emission Computed Tomography (SPECT) imaging, patient positioning and calibration or operational testing of dose measuring equipment for the nuclear pharmacy industry. Cobalt Products include the production of bulk cobalt (cobalt-60), fabrication of cobalt capsules for radiation therapy or various industrial applications, and recycling of expended cobalt sources. Radiochemical Products include production and distribution of various isotopically pure radiochemicals.


INTERNATIONAL ISOTOPES INC. (OTCBB:INIS) closed its last trading session up +0.0020 at 0.0920 with 111,403 shares trading hands.

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