Athena Gold Corporation (AHNRF) — Reincorporation detail

Announcement

2025-03-25

First SEC disclosure

Meeting / Vote

2025-03-27

COMPLETED

Effective

—

Legal effective date

Market Cap

$9M

At announcement

Why this firm matters

Destination is British Columbia — an outbound move to a non-TX/NV jurisdiction. Retained as a revealed-preference comparator (Y bucket) rather than included in completed-DExit counts.

Controller & ownership

Diffuse / non-controlled

Ownership concentration data not yet documented for this firm.

Vote outcome — reincorporation proposal

Approval standard: majority of votes cast. Meeting type: annual.

Vote totals not yet pulled. Awaiting EDGAR Item 5.07.

Event-study abnormal returns — announcement window

Returns around the announcement date.

No announcement-window CARs available for this firm yet.

Event-study abnormal returns — vote window

Returns around the shareholder-vote (or written-consent) date.

No vote-window CARs available for this firm yet.

Long-run abnormal returns & pooled estimates

Buy-and-hold abnormal returns (1 / 3 / 6 / 12 months) and calendar-time portfolio alpha (CTE) post-effective.

No long-run / pooled estimates available for this firm yet — run phase5z_compute_longrun.py on Windows to populate (requires effective date ≥ 3 months ago).

Cohort-level robustness battery

Heckman selection-corrected ATE · Romano-Wolf step-down + BH FDR · pooled BHAR. This firm's reading is shown in context of the full cohort.

Heckman two-step selection correction (controlled-vs-widely-held)

Cohort ATE = +0.94% (SE = 7.06%, n = 2395) after correcting for controller-status selection (inverse Mills ratio = -0.062).

Romano-Wolf step-down + Benjamini-Hochberg FDR (n = 47)

This firm: per-firm adjusted p-values pending. Multiple-hypothesis correction is computed across the full cohort to control family-wise error rate at alpha = 0.05.

Pooled cohort BHAR (mover firms only)

BHAR_63d: mean = -5.60% (SE = 22.11%, n = 3, p = 0.499) · BHAR_126d: mean = +17.33% (SE = 41.17%, n = 3, p = 0.774)

See Cohort event study → for the full battery and forest plots.

Source filings

Primary-source documents on SEC EDGAR plus IR / search links.

Source filings pending EDGAR backfill. No primary-source filings are presently linked in the canonical record for this firm. Until backfill completes, see SEC EDGAR company browse (CIK 0001304409) → for the live filings list.

Classification & audit trail

Bucket

Panel eligibility

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Audit status

VERIFIED_PXC_2026-05-30

Source confidence

—

Transaction status

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Audit notes

PXC-verified 2026-05-30: 6-K reports cross-border merger amalgamation with BC continuation; Athena Gold now files as foreign filer with BC domicile. Filing pattern switched 10-K/10-Q -> 20-F/6-K post-redomicile.