Atha Energy achieves significant milestones in the creation of a leading uranium explorer through a three-way merger with 92 Energy Limited (ASX: 92E) and Latitude Uranium. Atha successfully raises C$23.5 million through equity at premium issue pricing, meeting a key condition for the merger. The fund, along with earlier resources, brings the pro forma cash of the combined group to C$65 million. Atha's directors, executives, and founding shareholders, owning around 32%, commit to voting in favor of the merger.
Voter Support Agreements are signed, meeting another condition precedent. The merger will establish a premier Canada-focused uranium exploration company with substantial historical resources and the largest exploration portfolio in top uranium districts. The Merged Group, with C$65 million cash, plans aggressive exploration programs. The merger's Scheme Booklet is expected in mid-February, marking a pivotal development in Canada's uranium sector.
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