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
,
Aug. 11, 2025
/CNW/ -
ATHA Energy Corp.
(TSXV: SASK) (FRA:
X5U) (OTCQB: SASKF) ("
ATHA
" or the "
Corporation
") is pleased to announce that it has engaged
Stifel Canada to act as lead agent and sole bookrunner (together with a syndicate of agents, the
"
Agents
") in connection with a "best efforts" offering of up to
$10,000,000
(the "
Offering
")
consisting of:
Common shares of the Company (each a "
Common Share
" and the Common Shares sold
pursuant to the Offering, the "
Hard Dollar Shares
") at a price of
$0.60
per Hard Dollar Share;
Common Shares that qualify as "flow-through shares" (within the meaning of subsection 66(15)
of the
Income Tax Act
(
Canada
) (the "
Tax Act
")) (the "
FT Shares
") at a price of
$0.72
per FT
Share; and
FT Shares that may be immediately resold or donated to registered charities (the "
Charity FT
Shares
", and collectively with the Hard Dollar Shares and the FT Shares, the "
Offered
Shares
"), comprised of:
Federal Charity FT Shares ("
Federal Charity FT Shares
") at a price of
$0.90
per Federal
Charity FT Share; and
Saskatchewan FT Shares ("
SK Charity FT Shares
") at a price of
$0.99
per SK Charity FT
Share.
The Offering is expected to close on or about
September 3, 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 gross proceeds from the sale of FT Shares and Charity FT
Shares for exploration expenditures that qualify as Qualifying Expenditures (as defined below) at the
Company's Angilak project and other exploration stage-projects. The net proceeds of the Hard
Dollar Shares will be used for exploration expenditures on the Angilak project and for general
corporate purposes.
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 mineral mining expenditures" within the meaning of the Tax Act (the "
Qualifying
Expenditures
") after the closing date of the Offering in the aggregate amount of not less than the
total gross proceeds from the sale of FT Shares and Charity FT Shares. The Corporation shall
renounce the Qualifying Expenditures so incurred to the purchasers of the FT Shares and Charity FT
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 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
.
For more information, please contact:
Troy Boisjoli
Chief Executive Officer
Email:
www.athaenergy.com
1-236-521-0526
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 mineral mining expenditures; and the renunciation by the
Corporation
of the
Canadian exploration expenses (on a pro rata basis) to each subscriber of FT Shares and Charity
FT Shares by no later than effective
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
.
SOURCE
ATHA Energy Corp.
View original content:
http://www.newswire.ca/en/releases/archive/August2025/11/c3746.html
%SEDAR: 00051990E
CO: ATHA Energy Corp.
CNW 18:32e 11-AUG-25