ATHA Energy Corp. Announces Closing of Private Placement

{03681965;2}

ATHA ENERGY CORP. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Kelowna, British Columbia, July 21, 2022 – Atha Energy Corp. (the “Company”) is pleased to announce

that it has completed a non-brokered private placement of 12,050,000 common shares in the capital of

the Company (the “Common Shares”) at an offering price of $0.10 per Common Share for aggregate gross

proceeds of $1,205,000. The Common Shares will be subject to a statutory hold period ending November

22, 2022 in accordance with applicable securities laws.

The Company also announces that it has granted an aggregate of 500,000 incentive stock options to a

consultant of the Company. Each option entitles the holder to acquire one Common Share at an exercise

price of $0.10/share an expire 5 years from the date of grant.

About Atha Energy Corp.

The Company was incorporated under the Business Corporations Act (British Columbia) on January 14,

2021 under the name “Inglenook Ventures Ltd.”. On May 30, 2022, the Company changed its name to

“Atha Energy Corp”.

ON BEHALF OF THE BOARD OF DIRECTORS:

Mike Castanho

Director

Email: [email protected]

Phone: 778-839-6579

This news release is not an offer of the securities for sale in the United States. The securities have not been

registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United

States absent registration or an exemption from registration. 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 in

which such offer, solicitation or sale would be unlawful.