ATHA Announces Filing of a Final Short Form Prospectus

Rhea-AI Summary

ATHA Energy (OTCQB:SASKF) filed a final short form prospectus dated October 31, 2025 and received a receipt from the British Columbia Securities Commission qualifying up to 18,838,752 Units related to a prior private placement.

The company directed Odyssey Trust Company to convert all 17,126,138 Special Warrants into 17,126,138 Units. Each Unit equals one common share plus one warrant exercisable at $0.65 until September 18, 2028. A copy of the prospectus is available on SEDAR+.

Positive

• 17,126,138 Special Warrants converted into Units
• Each Unit includes a $0.65-strike warrant valid to Sep 18, 2028

Negative

• Conversion creates issuance of 17.1M new Units, diluting existing shareholders
• Securities not registered in the United States, limiting U.S. market access

Not for distribution to U.S. news wire services or dissemination in the United States.

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / October 31, 2025 / ATHA Energy Corp. (TSXV:SASK)(FRA:X5U)(OTCQB:SASKF) ("ATHA" or the "Company"), is pleased to announce that, further to its press release dated October 21, 2025, the Company has filed its final short form prospectus (the "Prospectus") with the securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and New Brunswick and been issued a receipt (the "Receipt") by the British Columbia Securities Commission, as principal regulator, in connection with the qualification of up to 18,838,752 units (the "Units") of the Company issuable upon the exercise or deemed exercise of 17,126,138 special warrants ("Special Warrants") of the Company issued in connection with its previously announced private placement.

In connection with the filing of the Prospectus and issuance of the Receipt, the Company has also issued a direction to Odyssey Trust Company, as special warrant agent, (the "Special Warrant Agent") pursuant to the special warrant indenture dated September 18, 2025 between the Company and the Special Warrant Agent to convert all 17,126,138 Special Warrants issued and outstanding into 17,126,138 Units. Each Unit shall consist of one common share in the capital of the Company and one common share purchase warrant of the Company exercisable to acquire one additional common share in the capital of the Company at an exercise price of $0.65 until September 18, 2028.

A copy of the Prospectus is available under the Company's SEDAR+ profile at www.sedarplus.ca.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About ATHA

ATHA is a Canadian mineral company engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. With a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin). In addition, the Company holds the largest cumulative prospective exploration land package (>7 million acres) in two of the world's most prominent basins for uranium discoveries - ATHA is well positioned to drive value. ATHA also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. For more information visit www.athaenergy.com.

On Behalf of the Board of Directors

Troy Boisjoli, CEO, ATHA Energy Corp.

About ATHA
visit www.athaenergy.com.

For more information, please contact:

Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
Website: www.athaenergy.com
Phone: 1-(236)-521-0526

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: ATHA Energy Corp

View the original press release on ACCESS Newswire

FAQ

What did ATHA (SASKF) file on October 31, 2025?

ATHA filed a final short form prospectus and received a BC securities commission receipt qualifying up to 18,838,752 Units.

How many Special Warrants did ATHA convert into Units for SASKF?

The company directed conversion of 17,126,138 Special Warrants into 17,126,138 Units.

What does one ATHA Unit include and what is the warrant strike for SASKF?

Each Unit equals one common share plus one common share purchase warrant exercisable at $0.65 until September 18, 2028.

Where can investors find ATHA's final prospectus for SASKF?

A copy of the prospectus is available on SEDAR+ under ATHA's profile.

Will ATHA securities be offered in the United States for SASKF?

No; the securities have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States.

How might the conversion affect ATHA shareholders (SASKF)?

Conversion issues of 17.1M Units increase outstanding securities and may dilute existing shareholders' holdings.