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ATHA Energy Announces Upsizing of Convertible Debenture Financing to USD$25 Million
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Atha Energy Corp.
[{"type":"text","content":"ATHA Energy Announces Upsizing of Convertible Debenture Financing to USD$25 MillionNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / January 22, 2026 / ATHA Energy Corp. (\"ATHA\" or the \"Company\") (TSXV:SASK)(OTCQB:SASKF)(FRA:X5U) is pleased to announce that, further to its press release dated January 13th, 2026, the Company has increased the size of its previously announced private placement (the \"Offering\") with Queen's Road Capital Investment Ltd. (\"QRC\") due to strong investor demand. The newly upsized Offering will consist of USD$25 million (approximately CAD$34.5 million1) principal amount of unsecured convertible debentures of the Company (the \"Debentures\").Proceeds from the Offering will be used to fund the exploration and development of the Company's Angilak Uranium Project located in Nunavut, Canada and for general corporate purposes.The principal amount of the Debentures will be convertible, in whole or in part, at the option of the holder thereof, into common shares of the Company (\"Shares\") at a price per Share of C$0.85, based on the Bank of Canada daily exchange rate and subject to adjustment in certain events (the \"Conversion Price\").Queen's Road Capital Investment Ltd. (TSX:QRC) is a dividend paying, leading financier to the global resource sector. QRC acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions. QRC was a critical supporter of NexGen Energy's development, investing USD$100 million between 2020 and 2023.The Debentures will bear interest (\"Interest\") at a rate of 12% per annum, payable quarterly, over a five-year term. Two-thirds of the Interest (8% per annum) will be payable in cash and one-third of the Interest (4% per annum) will be payable, subject to the approval of the TSX Venture Exchange (the \"TSXV\"), at a price per Share equal to the greater of the volume-weighted average trading price (\"VWAP\") of the Shares on the TSXV (or such other Canadian stock exchange on which the Shares may be listed from time to time) for the 20 trading days ending three trading days prior to the date on which such Interest is due, and the minimum price permitte...