TORONTO, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Latitude Uranium Inc. (“Latitude Uranium”, “LUR” or the “Company”) (CSE: LUR, OTCQB: LURAF, FRA: EI1) is pleased to announce that the Ontario Superior Court of Justice has granted the final order (the “Final Order”) in connection with the previously announced plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”), pursuant to which, among other things, ATHA Energy Corp. (“ATHA”) will acquire all of the issued and outstanding common shares of Latitude Uranium (the “LUR Shares”) in exchange for 0.2769 of a common share of ATHA (each whole share, an “ATHA Share”) for each LUR Share held. As previously announced, the Arrangement was approved by the Company’s shareholders at a special meeting held on February 27, 2024.
Closing of the Arrangement remains subject to satisfaction of certain customary closing conditions, including stock exchange and regulatory approvals. Subject to the satisfaction of these closing conditions, the parties currently expect to complete the Arrangement on or around March 7, 2024.
Further details regarding the Arrangement, including the principal closing conditions and the anticipated benefits for shareholders, can be found in the Company’s management proxy circular dated January 25, 2024 in respect of the Meeting, which can be found under the Company’s SEDAR+ profile at www.sedarplus.ca