ATHA Energy Provides Board of Directors Update

ATHA Energy (TSXV:SASK, OTCQX:SASKF) reported that Richard Pearce resigned from its Board of Directors effective August 31, 2026, after joining in April 2024.

Rhea-AI Summary

ATHA Energy (TSXV:SASK, OTCQX:SASKF) reported that Richard Pearce resigned from its Board of Directors effective August 31, 2026, after joining in April 2024. The company appointed Erinn Broshko as chair of the Compensation Committee and Suraj Ahuja to the Nominating and Corporate Governance function, both replacing Pearce. ATHA also issued 340,136 common shares at a deemed price of US$0.735 (C$1.03) to Queen's Road Capital Investment as payment for US$249,999.96 (C$350,349.94) in interest on a US$25 million 12% convertible debenture issued February 5, 2026.

Positive

• Settled interest of US$249,999.96 via issuance of 340,136 shares to Queen's Road Capital
• Reassigned committee roles, appointing Erinn Broshko as Compensation Committee chair
• Added Suraj Ahuja to Nominating and Corporate Governance responsibilities, maintaining governance coverage

Negative

• Issued 340,136 new common shares, creating incremental shareholder dilution
• Convertible debenture carries a relatively high 12% interest rate on US$25 million principal

News Market Reaction – SASKF

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-0.50% Session close to close

In the Aug 31 session, SASKF declined 0.50%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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VANCOUVER, BC / ACCESS Newswire / August 31, 2026 / ATHA Energy Corp. ("ATHA" or the "Company") (TSXV:SASK)(OTCQX:SASKF)(FRA:X5U) announces that Richard Pearce has resigned from the Company's Board of Directors, effective August 31^st, 2026, to pursue other professional endeavours.

Mr. Pearce became a director of the Company in April 2024, in connection with the Company's transaction with 92 Energy Ltd. ("92E").

"We thank Richard for his contribution to ATHA Energy," said Troy Boisjoli, CEO & Directors of ATHA Energy. "He was a critical part in ATHA's 2024 transactions with Latitude Uranium and 92E, helping ATHA transform into one of the most successful uranium exploration Companies globally. On behalf of the board and management, we wish him future success on Powerhaus Uranium."

Additionally, the Company announces that Erinn Broshko has been appointed as chair of the Compensation Committee and Suraj Ahuja has been appointed as a member of the Nominating and Corporate Governance in each case replacing Mr. Pearce.

The Company also announces that, further to its press release dated July 31, 2026, the Company has issued 340,136 common shares in the capital of the Company at a deemed price of US$0.735 (C$1.03)⁽¹⁾ to Queen's Road Capital Investment Ltd. ("QRC") as payment for US$249,999.96 (C$350,349.94)⁽¹⁾ in interest owing pursuant to the terms of the US$25,000,000 twelve percent convertible debenture issued to QRC on February 5, 2026.¹

About ATHA Energy

ATHA Energy is a uranium mineral exploration Company focused on advancing exploration at scale at its flagship Angilak Project in southern Nunavut, where ATHA controls 100% of the Angikuni Basin. ATHA offers significant exposure to uranium discovery, controlling the largest cumulative prospective exploration land package (6.8 million acres) across Canada's most prominent basins for uranium discoveries, and 10% carried interest exposure in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. (TSX: NXE) and IsoEnergy Ltd. (TSX: ISO). ATHA is institutionally backed, led by a strategic investment from Queens Road Capital Investment (TSX: QRC).

For more information visit www.athaenergy.com and review ATHA's company profile on SEDAR+ at www.sedarplus.ca.

On Behalf of the Board of Directors

Troy Boisjoli, CEO, ATHA Energy Corp.

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.

For more information, please contact:

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

¹ (1)Converted to Canadian Dollar (CAD) based on July 30, 2026, conversion pricing.

SOURCE: ATHA Energy Corp.

View the original press release on ACCESS Newswire

FAQ

What board changes did ATHA Energy (OTCQX:SASKF) announce on August 31, 2026?

ATHA Energy announced the resignation of director Richard Pearce effective August 31, 2026. According to ATHA Energy, Erinn Broshko was appointed chair of the Compensation Committee and Suraj Ahuja joined Nominating and Corporate Governance responsibilities, each taking roles previously held by Pearce.

How many ATHA Energy (SASKF) shares were issued to Queen's Road Capital for interest payment?

ATHA Energy issued 340,136 common shares to Queen's Road Capital as interest payment. According to ATHA Energy, the shares were issued at a deemed price of US$0.735 (C$1.03) to satisfy US$249,999.96 (C$350,349.94) in interest under a convertible debenture.

What are the key terms of ATHA Energy's US$25 million convertible debenture with Queen's Road Capital?

ATHA Energy has a US$25,000,000 convertible debenture with a 12% interest rate held by Queen's Road Capital. According to ATHA Energy, the debenture was issued on February 5, 2026, and recent interest of US$249,999.96 was paid in 340,136 common shares.

Who replaced Richard Pearce in ATHA Energy (SASKF) committee roles after his resignation?

After Richard Pearce’s resignation, ATHA Energy reassigned his committee responsibilities. According to ATHA Energy, Erinn Broshko became chair of the Compensation Committee and Suraj Ahuja was appointed as a member handling Nominating and Corporate Governance responsibilities, each replacing Pearce in those functions.

What does the August 2026 share issuance mean for ATHA Energy (SASKF) shareholders?

ATHA Energy’s August 2026 issuance added 340,136 common shares to its outstanding count. According to ATHA Energy, these shares were issued to Queen's Road Capital as payment-in-kind for US$249,999.96 in interest, which implies incremental dilution for existing shareholders.

What is ATHA Energy's main uranium exploration focus and land position in Canada?

ATHA Energy focuses on uranium exploration at its flagship Angilak Project in southern Nunavut. According to ATHA Energy, the company controls 100% of the Angikuni Basin and the largest cumulative prospective exploration land package of about 6.8 million acres across Canada’s key uranium basins.

How is ATHA Energy (SASKF) funded by Queen's Road Capital Investment?

ATHA Energy is institutionally backed by a strategic investment from Queen's Road Capital. According to ATHA Energy, Queen's Road Capital holds a US$25,000,000 12% convertible debenture, and recently received 340,136 ATHA common shares as payment for approximately US$249,999.96 of interest.