ATHA Energy Announces "Best Efforts" Private Placement
ATHA ENERGY ANNOUNCES "BEST
EFFORTS" PRIVATE PLACEMENT
/NOT FOR DISTRIBUTION TO
UNITED STATES
NEWSWIRE SERVICES OR FOR
DISSEMINATION IN
THE UNITED STATES
/
VANCOUVER, BC
,
March 31, 2025
/CNW/ - ATHA Energy Corp. ("
ATHA
" or the "
Corporation
")
(TSXV: SASK) (OTCQB: SASKF) (FRA: X5U) is pleased to announce that it has engaged Stifel
Nicolaus Canada Inc. and Canaccord Genuity Corp. ("
Canaccord
"), to act as co-lead agents
(together, "
Co-Lead Agents
") and joint bookrunners (together with a syndicate of agents, the
"
Agents
") in connection with a "best efforts" private placement offering of charity flow-through
common shares of the Corporation ("
Offered Shares
") at a price per Offered Share of
C$0
.61 for
aggregate proceeds of up to
C$10,000,000
, (the "
Offering
").The Offering is expected to close on
or about
April 22, 2025
, and is subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the TSX Venture Exchange (the "
Exchange
") and
the relevant securities regulatory authorities. The Offered Shares will be subject to a hold period of
four-months and one day from the closing of the Offering.
The Corporation intends to use the net proceeds of the Offering to advance exploration and
development of the Company's Angilak project and other exploration stage-projects.
The Corporation agrees and covenants pursuant to the provisions of the
Income Tax Act
(
Canada
)
(the "
Tax Act
") that it will incur eligible "Canadian exploration expenses" which qualify as "flow-
through critical mining expenditures" within the meaning of the Tax Act (the "
Qualifying
Expenditures
") after the closing date of the Offering and on or prior to
December 31, 2026
in the
aggregate amount of not less than the total gross proceeds of the Offering. The Corporation shall
renounce the Qualifying Expenditures so incurred to the purchasers of the Offered Shares effective
on or prior to
December 31, 2025
.
About ATHA Energy Corp.
ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of
uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio
including three 100%-owned post discovery uranium projects (the Angilak Project located in
Nunavut
,
and CMB Discoveries in
Labrador
, and the newly discovered basement hosted GMZ high-grade
uranium discovery located in the
Athabasca
Basin). In addition, the Company holds the largest
cumulative prospective exploration land package (7.3 million acres) in two of the world's most
prominent basins for uranium discoveries – ATHA is well positioned to drive value. ATHA also holds
a 10% carried interest in key
Athabasca
Basin exploration projects operated by NexGen Energy Ltd.
and IsoEnergy Ltd. For more information visit
www.athaenergy.com
.
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be
offered or sold within
the United States
(as defined in Regulation S under the 1933 Act) unless
registered under the 1933 Act and applicable state securities laws, or an exemption from such
registration requirements is available. This news release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities in any state of
the United
States
in which such offer, solicitation or sale would be unlawful.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
The information contained herein contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or developments that the
Corporation
expects or anticipates will or may occur in the future, including, without limitation, statements with
respect to, the completion of the Offering; the expected gross proceeds of the Offering; the use of
proceeds from the Offering; the anticipated date for closing of the Offering; the receipt of all
necessary regulatory and other approvals, including approval of the Exchange; the expected
incurrence by the Corporation
of eligible Canadian exploration expenses that will qualify as flow-
through critical mining expenditures; and the renunciation by the
Corporation
of the Canadian
exploration expenses (on a pro rata basis) to each subscriber of Offered Shares by no later than
December 31, 2025
. Generally, but not always, forward-looking information can be identified by
the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations
of such words and phrases or state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Such forward-looking information is based on numerous assumptions, including among others,
that the results of planned exploration activities are as anticipated, the price of uranium and other
commodities, the anticipated cost of planned exploration activities, that general business and
economic conditions will not change in a material adverse manner, that financing will be available
if and when needed and on reasonable terms, that third party contractors, equipment and supplies
and governmental and other approvals required to conduct the
Corporation's planned exploration
activities will be available on reasonable terms and in a timely manner. Although the assumptions
made by the Corporation
in providing forward-looking information are considered reasonable by
management at the time, there can be no assurance that such assumptions will prove to be
accurate.
Forward-looking information and statements also involve known and unknown risks and
uncertainties and other factors, which may cause actual events or results in future periods to differ
materially from any projections of future events or results expressed or implied by such forward-
looking information or statements, including, among others: negative operating cash flow and
dependence on third party financing; uncertainty of additional financing; no known current mineral
resources or reserves; the limited operating history of the
Corporation; aboriginal title and
consultation issues; reliance on key management and other personnel; actual results of exploration
activities being different than anticipated; changes in exploration programs based upon results;
availability of third party contractors; availability of equipment and supplies; failure of equipment to
operate as anticipated; accidents; effects of weather and other natural phenomena and other risks
associated with the mineral exploration industry; environmental risks; changes in laws and
regulations; community relations and delays in obtaining governmental or other approvals and the
risk factors with respect to the Corporation set out in the Corporation's filings with the Canadian
securities regulators and available under the Corporation's profile on SEDAR+ at
www.sedarplus.ca
.
Although the
Corporation has attempted to identify important factors that could cause actual results
to differ materially from those contained in the forward-looking information or implied by forward-
looking information, there may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking information will prove to be
accurate, as actual results and future events could differ materially from those anticipated,
estimated or intended. Accordingly, readers should not place undue reliance on forward-looking
statements or information. The Corporation undertakes no obligation to update or reissue forward-
looking information as a result of new information or events except as required by applicable
securities laws.
SOURCE
ATHA Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/March2025/31/c1448.html
%SEDAR: 00051990E
For further information:
For more information, please contact: Troy Boisjoli, Chief Executive
Officer, Email: [email protected], Phone:
236-521-0526; www.athaenergy.com
CO: ATHA Energy Corp.
CNW 17:16e 31-MAR-25