• Your vote is important no matter how many votes you hold.
• The Board of Directors of LUR unanimously recommends that Shareholders vote FOR the Arrangement Resolution.
TORONTO, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Latitude Uranium Inc. ("Latitude Uranium", "LUR" or the "Company") (CSE:LUR, OTCQB:LURAF, FRA: EI1)) is pleased to announce that Glass Lewis & Co. ("Glass Lewis"), an independent proxy advisory firm, has recommended that Latitude Uranium shareholders ("Shareholders") vote "FOR" the resolution (the "Arrangement Resolution") to approve the previously announced arrangement (the "Arrangement") involving the Company and ATHA Energy Corp. ("ATHA") at the upcoming Special Meeting of Shareholders (the "Meeting") to be held on Tuesday, February 27, 2024 at 10:00 a.m. (Toronto time).
John Jentz, Chief Executive Officer of Latitude Uranium, commented, "Having recently received a positive recommendation from ISS, we are pleased that Glass Lewis also supports the Board's unanimous recommendation that shareholders vote "FOR" the Arrangement Resolution. We look forward to completing the Arrangement and encourage all LUR shareholders to follow the recommendations of ISS, Glass Lewis and LUR's Board of Directors to vote "FOR" the Arrangement Resolution."
In its report, Glass Lewis commented, among other things, that:
"Strategically, the Proposed Arrangement, the 92E Scheme and the Concurrent Financing (together, the "Transactions") would bring together three firms that primarily hold interests in exploration-stage uranium mining assets throughout Canada, which should result in the formation of a combined company with greater scale and a stronger balance sheet."
"We see that the merger exchange ratio of the Proposed Arrangement (0.2769 ATHA shares per LUR share) implies an unaffected one-day premium of 56.1%, which ranks in the 77th percentile of the range of premiums observed in the aforementioned transaction set. Further, we calculate that the merger exchange ratio implies premiums to LUR shareholders of approximately 50.8%, 42.2% and 44.4% based on the volume-weighted average closing prices of LUR and ATHA for the unaffected one-, three- and six-month periods ended December 6, 2023, respectively, each of which also compare favorably to the range of premiums observed in the transaction set."
Vote Today
Shareholders are reminded that the deadline to vote is fast approaching. Shareholders must submit their proxies before 10:00 am (Toronto Time) on Friday, February 23, 2024.
The Board of Directors of Latitude Uranium recommends that Shareholders vote FOR the Arrangement Resolution
YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY
Special Meeting Details
The ...