ATHA Energy Corp (CSE:SASK, OTCQB:SASKF) announced that it has completed its merger with Latitude Uranium, with Latitude now a wholly owned subsidiary of the company.
“We are thrilled to announce the completion of this transaction, which in our view adds considerable maturity to our asset portfolio and further separates ATHA as the leading exploration company with comprehensive exposure to a unique profile of uranium upside,” ATHA CEO Troy Boisjoli said in a statement.
“This acquisition marks a significant milestone for the company by adding historical resource to our portfolio and enabling us to expand the reach of our robust balance sheet across a diverse range of exploration catalysts.”
Latitude executive chairman Philip Williams said the closing of the merger begins a “new era of opportunity” for the company’s shareholders, which he belives will benefit from multi-basin uranium exploration in Canada.
“With significant funding and an exceptional team in place, ATHA stands ready to accelerate exploration at Angilak, and drive additional discoveries in the Athabasca Basin and the Central Mineral Belt,” Williams said.
Per the terms of the merger agreement, Latitude shareholders received 0.2769 shares of ATHA for each Latitude share held. ATHA said it issued approximately 64,444,004 shares.
Latitude shares will be de-listed from the Canadian Securities Exchange at the market close on March 7, 2024.
ATHA is a mineral exploration company focused on the acquisition, exploration, and development of mineral resource properties.