Proposed Merger of 92 Energy and ATHA Energy Corp.

In a strategic move, 92 Energy Limited (ASX: 92E) and ATHA Energy Corp. (CSE: SASK) have formalized a Scheme Implementation Deed for ATHA to acquire 100% of 92E through a Scheme of Arrangement. Shareholders will receive 0.5834 ATHA shares for each 92E share, representing a premium of 78% to the closing price on December 7, 2023. Concurrently, ATHA aims to acquire Latitude Uranium Inc., initiating a three-way merger that establishes a prominent Canada-focused uranium exploration entity.

The merged group, with over C$642 million in cash, will explore expansive portfolios in Canada's top uranium jurisdictions. The proposal is endorsed by 92E's board, IsoEnergy, and Sachem Cove. The Scheme is contingent on shareholder approval, regulatory clearances, and Latitude Arrangement Agreement continuity. 92E shareholders are advised to await further instructions.

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