Athabasca Nuclear Corporation and Strike Graphite Corporation jointly announce that they intend to merge and form a combined Saskatchewan-centered exploration and development company with a multi-faceted project portfolio being focused on the Preston Lake uranium and the Sask Craton diamond projects. The transaction will be completed by way of a plan of arrangement, or other business combination, in which Athabasca Nuclear will acquire all of the issued and outstanding common shares of Strike. Each Strike shareholder will receive one common share of Athabasca Nuclear for each common share of Strike held.

All outstanding Strike options and warrants will be exchanged for options and warrants of Athabasca Nuclear in an amount and at exercise prices adjusted in accordance with the same exchange ratio. After completion of the Transaction, the executive officers and board of directors of Athabasca Nuclear will be unchanged, with exception of the addition of Blair Way, a current Director of Strike, who is expected to join the Board of Directors of Athabasca Nuclear.