Aquila Resources Inc. (TSX:AQA) has determined not to proceed with its previously announced marketed equity offering at this time and is withdrawing its preliminary short form prospectus filed on March 24, 2021. The Company also does not intend to move forward with the contemplated concurrent private placement. Aquila will work with its advisors to consider and evaluate various strategic alternatives to maximize shareholder value, including looking to realize value from its Wisconsin properties. The Company will also continue to work with Osisko Technical Services, which is leading the preparation of an optimized Feasibility Study for the Back Forty Project.