Maxim Group LLC acted as sole placement agent for IsoRay, Inc.’s $14.7 million registered direct offering.

IsoRay, Inc. (NYSE MKT:ISR) announced today that it closed on a $14,675,180 registered direct placement (the “Offering”) of 5,644,300 shares of common stock at a price of $2.60 per share with two institutional investors yesterday. IsoRay intends to use the net proceeds from the Offering, estimated at approximately $13,821,421 after deducting the placement agent fees and estimated offering expenses, for working capital and general corporate purposes.

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