ATHA Energy Corp (CSE:SASK, OTCQB:SASKF) told investors that shareholders of Latitude Uranium have “overwhelmingly” approved its takeover of the company at a special meeting held on February 27.
The company in December announced that it would be acquiring Latitude Uranium, expanding its Canadian portfolio to 7.1 million acres across top uranium jurisdictions, including the Athabasca Basin in Saskatchewan and the Thelon Basin in Nunavut.
A total of 103,295,471 common shares of Latitude Uranium were present at the meeting, representing approximately 44.69% of votes entitled to be cast.
Approximately 99.62% of votes eligible to be cast were in favor of the acquisition, ATHA said.
The company said the special resolution approving the arrangement required the approval of at least two-thirds of the votes.
Latitude will now seek a final order approving the arrangement from the Ontario Superior Court of Justice (Commercial List) on February 29, 2024.
ATHA noted that closing of the arrangement remains subject to the satisfaction of certain customary closing conditions but that the parties currently expect it to be completed in early March 2024.
ATHA Energy is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties.