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ATHA Energy Announces Upsizing of Financing to $22,840,000
VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce that, due
About this update from Atha Energy Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) is pleased to announce that, due to strong demand, ATHA has agreed with Eight Capital, as co-lead agent and joint bookrunner with Canaccord Genuity Corp. (together with a syndicate of agents, the “Agents”), to increase the size of its previously announced “best efforts” private placement offering of: (i) a combination of up to 6,400,000 charitable federal flow-through common shares of ATHA (the “ATHA Federal CFT Shares”) and charitable Saskatchewan flow-through common shares of ATHA (the “ATHA Saskatchewan CFT Shares” and, together with the ATHA Federal CFT Shares, the “Offered Shares”) at an issue price of $1.57 per ATHA Federal CFT Share and $1.75 per ATHA Saskatchewan CFT Share (the “CFT Offering”); and (ii) up to 4,000,000 subscription receipts of ATHA (the “Subscription Receipts”) at an issue price of $1.00 per Subscription Receipt (the “SR Offering” and together with the CFT Offering, the “Offering”). Pursuant to the upsized deal terms, the Agents have agreed to increase the CFT Offering to a combination of up to 12,000,000 ATHA Federal CFT Shares and ATHA Saskatchewan CFT Shares at the original issue prices of $1.57 per ATHA Federal CFT Share and $1.75 per ATHA Saskatchewan CFT Share, for aggregate gross proceeds under the CFT Offering and the SR Offering of up to $22,840,000, assuming all of the Offered Shares are issued as ATHA Federal CFT Shares. All other terms of the Offering previously announced on December 7, 2023, including the terms of the SR Offering, shall remain in full force and effect, unamended. The Agents will have an option (the “Agents’ Option”) to increase the size of the CFT Offering by up to 15% through the sale of up to 1,800,000 additional Offered Shares at the requisite price, which Agents’ Option is exercisable, in whole or in part, at any time up to 48 hours prior to closing of the Offering. The net proceeds of the Offering will be used to advance exploration and development of ATHA’s uranium assets, as well as for working capital and general corporate purposes. The Offering is expected to close on or about December 28, 2023 and is subject to customary closing conditions, including the approval of the securities’ regulatory authorities and the Canadian Securities Exchan...