Atha Energy Corp. (CNSX:SASK) agreed to acquire 92 Energy Limited (ASX:92E) for AUD 64 million on December 7, 2023. 92E shareholders will receive 0.5834 new common shares in ATHA for every 92E Share held. The scheme is expected to be implemented in April, 2024. As of January 31, 2024, the transaction is expected to close on April 11, 2204. 92 Energy Limited also issued 2.775 million fully paid ordinary shares s in respect of the conversion of 2.775 million performance rights. As of March 28, 2024, the scheme is now legally effective.
Canaccord Genuity Group Inc. (TSX:CF) acted as financial adviser to 92E. Thomson Geer and Stikeman Elliott LLP acted as legal advisors to 92E. Eight Capital acted as a financial advisor to ATHA and has provided a fairness opinion to the ATHA Board. MLT Aikins LLP and Hamilton Locke Pty Ltd acted as legal advisors to ATHA.