ATHA Energy Chooses Share Issuance for Interest Payment on Convertible Debenture

ATHA Energy Corp, headquartered in Vancouver, announced its decision to issue 340,136 common shares to satisfy US$249,999.96 in interest owed on a US$25 million convertible debenture. This debenture, carrying an interest rate of twelve percent, was issued to Queen's Road Capital Investment Ltd. back in February 2026. The common shares, priced at US$0.735 each, will satisfy part of the interest under these terms.

The agreement mandates quarterly interest payments, with eight percent in cash and four percent in common shares. The share price is determined by the higher of the average trading price over 20 days preceding the interest due date and the minimum price as per TSXV policies. This issuance is contingent on receiving necessary approvals, including TSXV's endorsement.