ATHA Energy Announces Proposed Acquisition of 92 Energy and Latitude Uranium and Concurrent $14 Million Financing to Create Leading Uranium Exploration Company

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VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) — ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB:SASKF) (“ATHA”) is pleased to announce that it has: (i) entered into a definitive arrangement agreement (the “Latitude Arrangement Agreement”) with Latitude Uranium Inc. (CSE: LUR) (“Latitude”) pursuant to which ATHA proposes to acquire all of the issued and outstanding common shares of Latitude (the “Latitude Shares”) by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Latitude Arrangement”); and (ii) entered into a binding scheme implementation deed (the “92E SID”) with 92 Energy Limited (ASX: 92E) (“92E”) pursuant to which ATHA proposes to acquire all of the issued and outstanding fully paid ordinary shares of 92E (the “92E Shares”) by way of a scheme of arrangement pursuant to Part 5.1 of the Australian Corporations Act 2001 (Cth) (the “92E Scheme”, and together with the Latitude Arrangement, the “Transactions”). ATHA further proposes to complete one or more financings on terms further described below to raise up to approximately C$14 million in connection with the Transactions (the “Concurrent Financing”).

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