ATHA Announces Filing of Annual Information Form and Preliminary Short Form Prospectus

Rhea-AI Summary

ATHA Energy (OTCQB:SASKF / TSX.V:SASK) announced it has filed its Annual Information Form for year ended Dec 31, 2024 and a preliminary short form prospectus with Canadian securities commissions on October 21, 2025.

The filings relate to the proposed qualification of up to 18,838,752 units issuable on exercise or deemed exercise of 17,126,138 special warrants issued under special warrant indentures dated September 18, 2025 and an underwriting agreement led by Stifel Nicolaus Canada with Red Cloud Securities and Paradigm Capital.

Each Unit will consist of one common share and one common share purchase warrant. Copies of the AIF and prospectus are available on SEDAR+. The securities are not registered for sale in the United States.

Positive

• Preliminary prospectus filed to qualify up to 18,838,752 Units
• AIF filed for fiscal year ended December 31, 2024 (regulatory disclosure)

Negative

• Potential dilution from 17,126,138 special warrants converting to Units
• U.S. distribution restricted — securities not registered under the U.S. Securities Act

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

VANCOUVER, BC / ACCESS Newswire / October 21, 2025 / ATHA Energy Corp. (TSX.V:SASK)(FRA:X5U)(OTCQB:SASKF) ("ATHA" or the "Company"), is pleased to announce that, further to its press releases dated September 18, 2025 and August 11, 2025, the Company has filed its annual information form for the fiscal year ended December 31, 2024 (the "AIF"), and a preliminary short form prospectus (the "Prospectus") with the securities commissions in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and New Brunswick, in connection with the proposed 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.

Each Unit shall consist of one common share in the capital of the Company and one common share purchase warrant. The Special Warrants were issued pursuant to the terms of special warrant indentures dated September 18, 2025 between the Company and Odyssey Trust Company and an underwriting agreement dated September 18, 2025 between the Company and Stifel Nicolaus Canada Inc. as lead underwriter and sole bookrunner together with a syndicate of underwriters, including Red Cloud Securities Inc. and Paradigm Capital Inc.

Copies of each of the AIF and Prospectus are 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.

On Behalf of the Board of Directors

Troy Boisjoli, CEO, ATHA Energy Corp

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.

Cautionary Statement Regarding Forward-Looking Information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". These forward-looking statements or information may relate to, without limitation, the Company's filing and obtaining a receipt for a (final) short form prospectus qualifying the distribution of the Units.

Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management at the time, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward-looking statements. Such assumptions include, but are not limited to, assumptions that the anticipated benefits of ATHA's proposed exploration program will be realized, that no additional permit or licenses will be required in connection with ATHA's exploration programs, the ability of ATHA to complete its exploration activities as currently expected and on the current anticipated timelines, including ATHA's proposed exploration program, that ATHA will be able to execute on its current plans, that ATHA's proposed explorations will yield results as expected, and that general business and economic conditions will not change in a material adverse manner. Although ATHA has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Such statements represent the current view of ATHA with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by ATHA, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Risks and uncertainties include, but are not limited to the following: inability of ATHA to realize the benefits anticipated from the exploration and drilling targets described herein or elsewhere; inability of ATHA to complete current exploration plans as presently anticipated or at all; inability for ATHA to economically realize on the benefits, if any, derived from the exploration program; failure to complete business plans as it currently anticipated; overdiversification of ATHA's portfolio; failure to realize on benefits, if any, of a diversified portfolio; unanticipated changes in market price for ATHA shares; changes to ATHA's current and future business and exploration plans and the strategic alternatives available thereto; growth prospects and outlook of the business of ATHA; and the ability to advance the Company projects and its proposed exploration program; risks inherent in mineral exploration including risks related worker safety, weather and other natural occurrences, accidents, availability of personnel and equipment, and other factors; aboriginal title; failure to obtain regulatory and permitting approvals; no known mineral resources/reserves; reliance on key management and other personnel; competition; changes in laws and regulations; uninsurable risks; delays in governmental and other approvals, community relations; stock market conditions generally; demand, supply and pricing for uranium; and general economic and political conditions in Canada, Australia and other jurisdictions where ATHA conducts business. Other factors which could materially affect such forward-looking information are described under the heading "Risk Factors" in the Prospectus, AIF and elsewhere in the filings of ATHA with the Canadian securities regulators which are available on ATHA's profile on SEDAR+ at https://www.sedarplus.ca/home/. ATHA does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE: ATHA Energy Corp

View the original press release on ACCESS Newswire

FAQ

What did ATHA (SASKF) file on October 21, 2025?

ATHA filed its Annual Information Form for year ended Dec 31, 2024 and a preliminary short form prospectus to qualify certain Units.

How many Units is ATHA (SASKF) seeking to qualify in the prospectus?

The prospectus seeks to qualify up to 18,838,752 Units issuable on exercise or deemed exercise of special warrants.

How many special warrants could convert into Units for ATHA (SASKF)?

There are 17,126,138 special warrants referenced that may result in the issuance of Units.

What does each Unit for ATHA (SASKF) consist of?

Each Unit consists of one common share and one common share purchase warrant.

Where can investors access ATHA's AIF and prospectus?

Copies are available on SEDAR+ at www.sedarplus.ca under ATHA's profile.

Can ATHA (SASKF) securities be sold in the United States?

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 U.S.