MLT Aikins LLP is pleased to have acted as Canadian legal adviser to ATHA Energy Corp. (ATHA) in securing new financing of approximately $63 million to advance exploration and development of its flagship Angilak Project in Nunavut.
On February 5, 2026, Vancouver-based uranium exploration company ATHA Energy announced that it had closed its private placement of US$25 million (the QRC Investment) principal amount of unsecured convertible debentures with Queen’s Road Capital Investment Ltd. (QRC) and had closed its best efforts brokered private placement of charity “flow-through” common shares (FT Shares), including a full exercise of the agent’s option, with Canaccord Genuity Corp. and CIBC Capital Markets acting as co-lead agents and joint bookrunners, together with a syndicate of agents including Stifel Nicolaus Canada Inc., Haywood Securities Inc. and Paradigm Capital Inc. through the issuance of 28,186,500 FT Shares at a price per FT Share of $1.02 for aggregate gross proceeds of $28,750,230 (the LIFE Offering).
The net proceeds from these transactions will be used to fund the exploration and development of the Company’s Angilak Uranium Project located in Nunavut, Canada, and for general corporate purposes.
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 (>7 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).
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