Athena Resources Limited (ASX: $AHN) Proportional Takeover Bid Announcement

Athena Resources Limited (ASX: $AHN) has received a letter from Entertainment Holdings, Inc. (OTC:XRXH) expressing its intention to make a conditional, proportional off-market offer to acquire 2 out of every 10 shares in Athena Resources Limited held by Athena shareholders. The offer is set at $0.003 per share, with a potential increase to $0.006 per share if certain conditions are met. Athena advises its securityholders to take no action at this time and will provide a further announcement after evaluating the terms of the offer.

Executive Commentary on Proportional Takeover Bid

Athena Resources Limited acknowledges the receipt of Entertainment Holdings, Inc.'s intention to make a proportional off-market offer. The company notes the unsolicited and opportunistic nature of the offer and emphasizes that it is not an offer to acquire all shares held by Athena shareholders. Athena will continue to operate and execute its business strategy in the ordinary course while evaluating and assessing the terms of the offer. The company will provide a further announcement in due course.

Summary of Proportional Takeover Bid Announcement

Athena Resources Limited has received a conditional, proportional off-market offer from Entertainment Holdings, Inc. to acquire 2 out of every 10 shares in Athena Resources Limited held by Athena shareholders. The offer is set at $0.003 per share, with a potential increase to $0.006 per share if certain conditions are met. Athena advises its securityholders to take no action at this time and will provide a further announcement after evaluating the terms of the offer. Entertainment Holdings' intention to make the offer is attached to the announcement. Athena will continue to operate and execute its business strategy in the ordinary course while assessing the terms of the offer. The company aims to provide a clear outlook for its shareholders as it navigates through this development.