ATHA Energy Announces $25 Million LIFE Private Placement of Flow-Through Shares

Core Viewpoint - ATHA Energy Corp. has announced a private placement of up to 24,510,000 flow-through shares at a price of $1.02 per share, aiming for gross proceeds of up to $25,000,200, with the potential to increase to C$28,750,230 if an additional option is fully exercised [1][2]. Group 1: Offering Details - The offering will be conducted by Canaccord Genuity Corp. and CIBC World Markets as co-lead agents and joint bookrunners [1]. - The expected closing date for the offering is around February 5, 2026, subject to regulatory approvals [4]. - The flow-through shares will be offered to purchasers in Canada and other qualifying jurisdictions, exempt from certain conditions under National Instrument 45-106 [5]. Group 2: Use of Proceeds - The gross proceeds from the sale of the flow-through shares will be used to incur eligible "Canadian exploration expenses" related to the Company's projects in Canada, specifically for flow-through critical mineral mining expenditures [3]. - The Company plans to renounce all qualifying expenditures to subscribers of the flow-through shares by December 31, 2026 [3]. Group 3: Company Overview - ATHA Energy Corp. is focused on the acquisition, exploration, and development of uranium assets, with a portfolio that includes three 100%-owned uranium projects and a large exploration land package exceeding 7 million acres [8]. - The Company also holds a 10% carried interest in key exploration projects in the Athabasca Basin operated by NexGen Energy Ltd. and IsoEnergy Ltd [9].