Business
Atha Energy Announces "Best Efforts" C$10 Million Private Placement
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
About this update from Atha Energy Corp.
[{"type":"text","content":" 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 pack...