- ATHA Energy (SASKF, Financial) successfully raises $10 million in private placement.
- Funds directed towards Canadian exploration expenses, qualifying as flow-through critical mining expenditures.
- Offering conducted by Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp.
ATHA Energy Corp (OTCQB: SASKF) has announced the successful completion of a fully-subscribed private placement, raising total gross proceeds of $10 million. The offering included 16,766,490 flow-through common shares priced at $0.47 per share and an additional 3,475,000 Charity FT Shares priced at $0.61 per share.
The placement was facilitated through an agency agreement involving Stifel Nicolaus Canada Inc. and Canaccord Genuity Corp., serving as co-lead agents, with participation from Red Cloud Securities Inc. As part of the agreement, agents received a 6% cash fee from the gross proceeds.
The capital raised will be allocated towards eligible Canadian exploration expenses, which will be recognized as flow-through critical mining expenditures under the Income Tax Act of Canada. These expenditures relate to the development of the Angilak project and other exploration-stage projects, anticipated for completion by December 31, 2026. ATHA's CEO, Troy Boisjoli, participated personally in the offering by acquiring 65,000 FT Shares.
