VANCOUVER, BC — January 13, 2026 — Leads & Copy — ATHA Energy Corp. has entered into a binding term sheet with Queen’s Road Capital Investment Ltd. for a private placement of USD$20 million in unsecured convertible debentures.
The offering will fund the exploration and development of ATHA Energy’s Angilak Uranium Project in Nunavut, Canada, and for general corporate purposes. Queen’s Road Capital will also have a two-year option to purchase an additional USD$20 million in debentures at a price per common share equal to 130% of the market price.
The debentures will be convertible into shares at a price of C$0.85 per share, subject to adjustment. Interest on the debentures will be 12% per annum, payable quarterly over a five-year term. Two-thirds of the interest will be payable in cash, and one-third will be payable at a price per share equal to the greater of the volume-weighted average trading price of the shares on the TSX Venture Exchange for the 20 trading days ending on the last trading day prior to the date on which such interest is due, and the minimum price permitted by the policies of the TSXV.
According to the press release, Queen’s Road Capital Investment Ltd. is a dividend-paying financier to the global resource sector. They invest in privately held and publicly traded resource companies, focusing on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.
ATHA Energy Corp. CEO & Director Troy Boisjoli stated that Queen’s Road Capital has a proven track record of recognizing and investing early in top tier uranium exploration assets and Companies, such as NexGen Energy and IsoEnergy, and the investment is a tremendous vote of confidence and recognition of the potential that ATHA sees at its Angilak Uranium Project in Nunavut.
In 2025, ATHA Energy focused exploration on regional high-priority target areas, leading to five new uranium discoveries across the three currently defined mineralized corridors at Angilak: the Mineralized RIB Corridor, the KU-Nine Iron Corridor, and expansion of mineralization along the Lac 50 Deposit Corridor.
Queen’s Road Capital Chairman and CEO Warren Gilman stated that they are thrilled to support the next phase of development at the Angilak Uranium Project in Nunavut following the 2025 discovery of the Mineralized RIB Corridor. He noted that the Angikuni Basin, which ATHA Energy owns in its entirety, is returning some of the best uranium intercepts in Canada outside the Athabasca Basin in Saskatchewan, and the investment complements their other high quality asset uranium investments, including NexGen Energy and IsoEnergy.
In connection with the offering, ATHA Energy will enter into an investor rights agreement with Queen’s Road Capital containing provisions relating to voting alignment, standstill and transfer restriction covenants, and will also grant Queen’s Road Capital the option to acquire an additional US$20 million of debentures on substantially the same terms as the Debentures, including at a price per Share equal to 130% of the then market price.
Closing of the offering is subject to customary closing conditions, including due diligence, regulatory approvals, completion of definitive documentation, and no material adverse change in the business of the company.
ATHA Energy Corp. is a uranium mineral exploration company with a strategically balanced portfolio including three 100%-owned post discovery uranium projects (the Angilak Uranium Project located in Nunavut, CMB Discoveries in Labrador, and the newly discovered basement hosted GMZ high-grade uranium discovery located in the Athabasca Basin) and the largest cumulative prospective exploration land package (>7 million acres) in two of the world’s most prominent basins for uranium discoveries. ATHA Energy also holds a 10% carried interest in key Athabasca Basin exploration projects operated by NexGen Energy Ltd. and IsoEnergy Ltd.
Contact:
Troy Boisjoli
Chief Executive Officer
Email: info@athaenergy.com
Phone: 1-(236)-521-0526
Source: ATHA Energy Corp.
