VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) — ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA“) is pleased to announce that it has: (i) entered into a definitive arrangement agreement (the “Latitude Arrangement Agreement“) with Latitude Uranium Inc. (CSE: LUR) (“Latitude“) pursuant to which ATHA proposes to acquire all of the issued and outstanding common shares of Latitude (the “Latitude Shares“) by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Latitude Arrangement“); and (ii) entered into a binding scheme implementation deed (the “92E SID“) with 92 Energy Limited (ASX: 92E) (“92E“) pursuant to which ATHA proposes to acquire all of the issued and outstanding fully paid ordinary shares of 92E (the “92E Shares“) by way of a scheme of arrangement pursuant to Part 5.1 of the Australian Corporations Act 2001 (Cth) (the “92E Scheme“, and together with the Latitude Arrangement, the “Transactions“). ATHA further proposes to complete one or more financings on terms further described below to raise up to approximately C$14 million in connection with the Transactions (the “Concurrent Financing“).

Copies of each of the Latitude Arrangement Agreement and the 92E SID will be available on ATHA’s SEDAR+ profile at www.sedarplus.ca.

Strategic Rationale for the Transactions

Largest Exploration Portfolio in Canada: The combined company is expected to provide shareholders with exposure to 7.1 million acres of exploration acreage spread across Canada’s top three uranium jurisdictions, representing the largest exploration portfolios in some of the highest-grade uranium districts in the world.
Institutional Participation: Significantly larger market capitalization of the combined company is expected to improve liquidity and attract increased institutional investor interest, as demonstrated by IsoEnergy and Mega Uranium’s support for the Transactions as a lead investor in the Concurrent Financing.

see & read more on https://www.athaenergy.com/atha-energy-corp-announces-proposed-acquisition-of-92-energy-and-latitude-uranium-and-concurrent-14-million-financing-to-create-leading-uranium-exploration-company/