SYDNEY , AUSTRALIA: 92 Energy Limited (ASX: 92E) has announced the successful completion of its acquisition by ATHA Energy Corp. (TSXV: SASK).

The Federal Court of Australia has approved the arrangement, and the scheme is now legally effective, with all necessary documents lodged with the Australian Securities and Investments Commission.

As a result of this acquisition, trading of 92 Energy shares on the ASX will be suspended from the close of trading on 28 March 2024.

Shareholders of 92 Energy are set to receive 0.5834 ATHA common shares for each 92 Energy share they hold, with the exchange taking place on 4 April 2024.

However, this excludes ineligible foreign holders and Selling Scheme Participants who have opted for the Sale Facility, where their shares will be sold by a sale agent.

The proceeds from the sale of ATHA shares will be converted into Australian currency and distributed to the shareholders accordingly.

This strategic acquisition marks a significant consolidation in the energy market and paves the way for ATHA Energy to expand its footprint in the industry.