VANCOUVER, British Columbia, March 27, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) ("ATHA") is pleased to announce that the Federal Court of Australia (the "Court") has made orders approving the previously announced Australian scheme (the "Scheme") involving ATHA and 92 Energy Limited (ASX: 92E) ("92 Energy"). The Scheme was previously announced in the news releases of ATHA dated December 7, 2023, and January 25, 2024.
The Managing Director of 92 Energy, Siobhan Lancaster, said: "The merger with ATHA begins a new chapter of opportunity for 92 Energy shareholders. With significant funding, an exceptional team in place, the Gemini discovery, Angilak's historical resource and the largest land package in the Athabasca and Thelon Basin, ATHA is set to accelerate exploration. 92 Energy has enjoyed significant exploration success since listing, culminating in its discovery of the GMZ, and I would like to thank the 92 Energy board, management, shareholders and advisors for their invaluable support and contributions."
Troy Boisjoli, Chief Executive Officer of ATHA, comments, "We are thrilled with the overwhelming level of support from 92 Energy's shareholders in the previously announced vote to approve the transaction. On behalf of ATHA's board and management I would like to express the Company's appreciation for the confidence 92 Energy's shareholders have shown for our vision of creating a Company that is a global leader in uranium exploration and project development. With the recently completed transaction of Latitude Uranium and the acquisition of 92 Energy, ATHA has unparallel access to exceptional post discovery projects, dominant land packages in regions containing the world's highest grade uranium deposits and mines, along with a combined team that has a track record of success when it comes to discovery and development of uranium assets. These technical attributes are backed by a highly experienced capital markets team, which has the Company in a strong financial position where we can continue to execute our prime objective - discovering and developing the world's next generation of uranium assets."
Although Court approval has been obtained, the Scheme will not become legally effective until the Court orders are lodged with the Australian Securities and Investments Commission (expected to occur on March 28, 2024 (Australia Time)).
Implementation of the Scheme is expected to occur on Thursday, April 11, 2024 (Australia Time).
