ATHA Energy Corp. Closes Offering of Special Warrants for Aggregate Gross Proceeds of C$11.5 Million
Counsel to the Underwriters with respect to ATHA Energy Corp.’s C$11.5 million underwritten private placement of special warrants led by Stifel Canada, with Red Cloud Securities Inc. and Paradigm Capital Inc.
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On September 18, 2025, ATHA Energy Corp. (CSE: SASK) (FRA: X5U) (OTCQB: SASKF) (the “Company”) announced the completion of its underwritten private placement of 17,126,138 special warrants comprised of: (i) 5,756,820 non-flow through special warrants (the “NFT Special Warrants“) at a price of $0.54 per NFT Special Warrant; (ii) 5,111,888 flow-through special warrants (the “FT Special Warrants“) at a price of $0.65 per FT Special Warrant; and (iii) 6,257,430 charity flow-through special warrants (the “Charity FT Special Warrants” and, collectively with the NFT Special Warrants and FT Special Warrants, the “Special Warrants“) at a price of $0.81 per Charity FT Special Warrant, raising aggregate gross proceeds of $11,499,928.30 (the “Offering”).
Each Special Warrant entitled the holder to receive, without payment of additional consideration, one unit (a “Unit”) consisting of one common share and one common share purchase warrant exercisable at C$0.65 until September 18, 2028.
On October 31, 2025, the Company filed and obtained a receipt for its final short form prospectus with the British Columbia Securities Commission, qualifying the distribution of up to 18,838,752 units issuable upon the exercise or deemed exercise of the Special Warrants. Following receipt of the final prospectus, all 17,126,138 Special Warrants were automatically converted into Units.
The Offering was led by Stifel Canada, as lead underwriter and sole bookrunner, on behalf of a syndicate which included Red Cloud Securities Inc. and Paradigm Capital Inc. (collectively, the “Underwriters”).
The Company is a diversified mineral exploration company engaged in the acquisition, exploration and evaluation of uranium mineral resources in top-tier jurisdictions in Canada including the Angikuni and Thelon Basins located in Nunavut and the Athabasca Basin in Saskatchewan and Alberta.
Miller Thomson advised the Underwriters with a team comprised of Andrew Powers, Jeffrey Gebert, Sam Kelley, Sandra Wright (Capital Markets & Securities), Raymond Adlington (Tax), and Jacqueline Rintjema (Articling Student).