Atha Energy Announces Second Amendment to Royalty Agreement With the New Saskatchewan Syndicate
Atha removes royalty encumbrances on relinquished lands through minor dilution as part of its portfolio cleanup strategy.
Atha Energy Corp. (SASK) has entered into a Second Amending Agreement with the New Saskatchewan Syndicate (NSS) to modify an existing royalty and participation agreement dated March 30, 2023. The amendment permits Atha to abandon, relinquish, terminate, or not renew specific properties, referred to as the "Relinquished Property," with NSS waiving its rights to those assets.
In consideration for the waiver, Atha agreed to issue 1,000,000 common shares and 1,000,000 common share purchase warrants. The warrants carry an exercise price of $1.05 per share, have a five-year term from the issuance date, and are exercisable for one share each. The issuance is subject to approval from the TSX Venture Exchange.
The company explicitly notes that its 100%-owned Angilak Uranium Project in Nunavut is not related to or affected by the NSS properties or agreements.
Atha Energy Corp. (SASK) is executing a standard portfolio optimization transaction designed to clean up title and remove royalty or encumbrance burdens on non-core or relinquished lands. The company is issuing 1,000,000 shares, representing approximately 0.29% of the ~349.3 million shares outstanding as of Q1 2026. Additionally, the issuance of 1,000,000 warrants at $1.05 adds to the existing overhang but is priced at a premium to recent trading levels, limiting immediate downside pressure.
The transaction aligns with expected corporate housekeeping for exploration-stage companies managing large land packages. It does not alter the core thesis, cash position, or near-term exploration timeline at Angilak.
Atha Energy Corp. is a Canadian uranium exploration company focused on the Angilak Uranium Project in Nunavut, Canada. The company’s flagship asset is the 100%-owned Angilak Uranium Project, which spans the Angikuni and Yathkyed Basins. Its portfolio includes three 100%-owned post-discovery uranium projects: Angilak, CMB Discoveries, and GMZ. Additionally, the company holds the largest cumulative prospective exploration land package, exceeding 7 million acres, across two prominent uranium basins. Atha Energy also holds a 10% carried interest in key Athabasca Basin projects operated by NexGen Energy Ltd. and IsoEnergy Ltd. The company is currently in the post-discovery exploration stage, with advanced drill-ready targets that have demonstrated a 100% success rate on 3D EM inversion targets in recent campaigns.