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Athabasca Minerals Announces Engagement of Canaccord Genuity as Advisors for the Exploration of Strategic Alternatives

by ahnationtalk on March 28, 202320 Views

Calgary, Alberta–(Newsfile Corp. – March 28, 2023) – Athabasca Minerals Inc. (TSXV: AMI) (“Athabasca” or the “Corporation”), one of North America’s largest suppliers of premium sand today announced that its board of directors (the “Board”), together with the support of management, has initiated a process to evaluate potential strategic alternatives intended to maximize shareholder value. As part of the process, the Board will consider a full range of strategic alternatives, which may include financing alternatives, a merger, amalgamation, plan of arrangement, consolidation, reorganization or other business combinations and other alternatives intended to increase shareholder value.

The Corporation has retained Canaccord Genuity Corp. as its financial advisors and Fasken Martineau DuMoulin LLP as its legal advisors to assist with the strategic review process.

There can be no assurance that the evaluation of strategic alternatives will result in any such strategic alternative, or any assurance as to its outcome or timing. Athabasca does not intend to disclose developments related to the process unless and until Athabasca executes a definitive agreement with respect thereto, or the Board otherwise determines that further disclosure is appropriate or required.

“With our shift in focus towards becoming one of North America’s largest sand suppliers, and our realignment and refocus on core business units, we believe that we are in one of the strongest operational positions of this Corporation’s history. Despite this, our stock is trading well below book value,” states Dana Archibald, CEO of Athabasca. “The management team and the Board are aligned in our belief that the best way to maximize shareholder value is to explore options that will unlock our potential and provide a platform for continued growth and success. Throughout this process, we will remain committed to the execution of our work, growing our business, serving our clients and supporting our employees and partners throughout all of the divisions of the Corporation.”

Athabasca is an integrated industrial minerals company focused on the production and delivery of frac sand to Canada and the United States. Athabasca also operates aggregate operations in Western Canada and maintains the largest platform for buying, selling and transporting of aggregates through its 100% owned technology platform, AMI RockChain.

For further information, please contact:

Cheryl Grue, Director, Corporate Affairs
Tel: 587-392-5862 /


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