92 Energy’s (ASX:92E) shareholders have voted in favour of the proposed merger with ATHA Energy Corp (TSXV:SASK) via a scheme of arrangement, as previously reported.
The companies are intending to merge with the aim of creating a ‘leading’ Canadian uranium explorer with a ‘strong’ financial position and a portfolio of ‘highly prospective’ assets.
In short, 99.65% of the votes cast by 92 Energy shareholders were in favour of the scheme.
92 Energy, which has a market capitalisation of $51.72 million, says although shareholder approval has been obtained, the scheme remains subject to a number of customary conditions, including federal court approval on 27 March 2024, alongside an independent expert continuing to conclude the scheme is fair and reasonable.
Subject to these conditions being satisfied or waived, the scheme is anticipated to be implemented on or about 11 April 2024.
92 Energy is an Australian uranium explorer focused on targeting ‘high-grade’ unconformity associated uranium in the Athabasca Basin, Canada.
ATHA Energy Corp is a Canadian mineral explorer focused on engaging in acquisitions, exploration, and development activities on uranium assets in the pursuit of a clean energy future.
Write to Aaliyah Rogan at Mining.com.au
Images: 92 Energy
