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Atha Energy Announces Appointment of New Board Member and Chief Financial Officer
VANCOUVER, British Columbia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- ATHA Energy Corp. (TSXV: SASK) (FRA: X5U) (OTCQB: SASKF) (“ATHA”) holder of the largest uranium exploration portfolio in two of the highest-grade uranium districts in the world, is pleased to announce the appointment a new Non-Executive Director and a new Chief Financial Officer.
Mr. Erinn Broshko has been appointed to its Board of Directors, effective immediately; and,
Mr. Rhéal Assié has been appointed as Chief Financial Officer, effective November 6, 2024.
Mr. Broshko brings over 25 years as a corporate executive and lawyer with a diverse career spanning law, business, and politics. He began his professional career as a corporate and securities lawyer in Vancouver, eventually transitioning to leadership roles in the business world that included positions such as CEO and Executive Chairman of a publicly listed biotechnology company and Executive Chairman of an energy services company. Mr. Broshko is currently the Managing Director of a Vancouver-based private equity firm.
Mr. Assié has worked in the accounting and mining industry for over 15 years, including past experience in the uranium sector. Mr. Assié worked for Deloitte LLP for a number of years conducting audits on junior and major mining companies and providing advisory services to both the public, private and government sectors. He also worked for large mining companies including Agrium, Cameco, and as CFO & Corporate Secretary of NexGen Energy Ltd.
ATHA also announces the resignations of Mr. Jeffrey Barber from the board of Directors of the Company as well as the resignation of Mr. Akash Patel as CFO, to be effective November 6, 2024. Each of Mr. Barber and Mr. Patel have agreed to provide consulting services to the Company for a period of time that provides for an orderly transition.
Troy Boisjoli, CEO of ATHA commented, “We are deeply grateful to Jeffrey and Akash for their dedication and invaluable contributions during their time with ATHA. Their efforts have laid a strong foundation for our continued success. At the same time, we are also excited to welcome new members to the team and believe their expertise and vision align with our strategic goals as we enter this new phase of growth in the uranium cycle.”
MARKET MAKING SERVICES
ATHA is also pleased to announce that it has engaged the services of ICP Securities Inc. (“ICP”) to provide automated market making services, including use of its proprietary algorithm, ICP Premium?, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will be paid a monthly fee of C$7,500, plus applicable taxes, which will be payable within five (5) business days of the receipt of an invoice from ICP by the Company, which will be provided on the first day of every month. The market making services agreement (the “Agreement”) between the Company and ICP was dated effective October 15, 2024, and is for an initial term of three (3) months (the “Initial Term”). The Agreement will automatically renew for subsequent one (1) month terms (each month called an “Additional Term”) unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or Additional Term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation in connection with the engagement of ICP by the Company. ICP and its clients may acquire an interest in the securities of the Company in the future.
ICP is an arm’s length party to the Company. ICP’s market making activity will be primarily to correct temporary imbalances in the supply and demand of the Company’s shares. ICP will be responsible for the costs it incurs in buying and selling the Company’s shares, and no third party will be providing funds or securities for the market making activities.
ICP is a closely held Canadian corporation and an arm’s length party to the Company. ICP and its affiliates do not own any securities in the Company.
About ICP Securities Inc.
ICP Securities Inc. is a Toronto based CIRO dealer-member that specializes in automated market making and liquidity provision, as well as having a proprietary market making algorithm, ICP Premium?, that enhances liquidity and quote health. Established in 2023, with a focus on market structure, execution, and trading, ICP has leveraged its own proprietary technology to deliver high quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About ATHA
ATHA is a Canadian mineral company with a strategically balanced portfolio including 100%-owned uranium projects (the Angilak Project located in Nunavut, and CMB Discoveries in Labrador). ATHA is engaged in the acquisition, exploration, and development of uranium assets in the pursuit of a clean energy future. In addition, the Company holds the largest cumulative prospective exploration land package (8.5 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.
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
The information contained herein includes “forward-looking statements” and “forward-looking information” as defined under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements and information can generally be identified by the use of terms such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “continue”, “believe”, “plans”, “anticipate” or similar terms.
Forward-looking information and statements include, but are not limited to, statements with respect to the activities, events or developments that Atha expects or anticipates will or may occur in the future, including those regarding the benefits that may be derived from the Agreement, the effectiveness of the services provided by ICP, future growth and ability to create new streams or royalties, the development and focus of the Company, its acquisition strategy, the plans and expectations of the operators of the projects underlying its interests, including the proposed advancement and expansion of such projects; the results of exploration, development and production activities of the operators of such projects; and the Company’s expectations regarding future revenues.
Forward-looking information and statements are based on the current expectations, beliefs, assumptions, estimates and forecasts about Atha Energy’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions and although the assumptions made by the Company in providing forward-looking information and statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate. Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of Atha Energy to differ materially from any projections of results, performances and achievements of Atha Energy including, without limitation, any inability of the operators of the properties underlying the Company’s royalty and stream interests to execute proposed plans for such properties or to achieve planned development and production estimates and goals, risks related to the operators of the projects in which the Company holds interests, including the successful continuation of operations at such projects by those operators, risks related to exploration, development, permitting, infrastructure, operating or technical difficulties on any such projects, risks related to international operations, government relations and environmental regulation, uncertainty relating to the availability and costs of financing needed in the future and the Company’s ability to carry out its growth plans as well as the impact of the COVID-19 pandemic and other related risks and uncertainties. For a discussion of important factors which could cause actual results to differ from forward-looking statements, refer to the annual information form of Atha Energy for the year ended December 31, 2023 and its other publicly filed documents under its profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and statements, there may be other factors that cause results not to be as anticipated, estimated, or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information and statements. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws. Disclosure relating to properties in which Atha Energy holds royalty or stream interests is based on information publicly disclosed by the owners or operators of such properties. The Company generally has limited or no access to the properties underlying its interests and is largely dependent on the disclosure of the operators of its interests and other publicly available information. The Company generally has limited or no ability to verify such information. Although the Company does not have any knowledge that such information may not be accurate, there can be no assurance that such third-party information is complete or accurate. In addition, certain information publicly reported by operators may relate to a larger property than the area covered by the Company’s interest, which often may only apply to a portion of the overall project area or applicable mineral resources or reserves.
