John C. Power, President and CEO of Athena Gold Corp (OTCQB:AHNRF), executed a purchase of common stock totaling $3,320 on May 18, 2026. This insider transaction saw the acquisition of shares priced between $0.325 and $0.33 per share. The timing of this purchase is noteworthy as the company's stock was trading at $0.32, reflecting a decline of 35% year-to-date. Despite the downward trend in the stock price, the corporation maintains a current ratio of 4.07.
The total insider acquisition comprised two distinct indirect purchases of common stock. First, Power acquired 2,602 shares through his established 401(k) plan at a cost of $0.325 per share. Separately, an additional block of 7,500 shares was jointly purchased with Paula Power, priced at $0.33 per share.
It is important to note that all share counts referenced in these transactions are adjusted following a significant corporate event: a 1-for-9.9 reverse stock split that took effect on April 2, 2026. Following the May 18th purchases, Power's indirect holdings expanded to include 12,500 shares via his 401(k) plan and the 7,500 shares held jointly with Paula Power. In addition to these recent acquisitions, he continues to directly hold a substantial stake of 1,268,611 shares of Athena Gold common stock.
Beyond the recent buying activity, the article details several other financial instruments and corporate actions involving Power. On March 19, 2026, Power was granted 40,808 common stock options. These were issued under the company’s 2020 Equity Incentive Plan and also reflect the adjustments from the reverse stock split. The exercise price of $0.594 for these options reflects an original Canadian dollar exercise price of $0.06, adjusted for the corporate action.
Furthermore, Power maintains other derivative securities, which include 50,505 common stock options exercisable at $0.792. He also holds common stock warrants representing 29,798 shares with an exercise price of $1.188, and another block of 8,500 shares at an exercise price of $0.841. These exercise prices are similarly adjusted to account for the reverse stock split.
The recent corporate developments surrounding Athena Gold point to significant strategic initiatives within the mining sector. The company has secured a C$200,000 grant from the Ontario government. This funding is specifically designated to support its maiden drill program at the Laird Lake project, which is located in the Red Lake Gold District. This financial assistance originates from the Ontario Junior Exploration Program, an initiative designed to bolster grassroots mineral exploration.
In terms of asset expansion, Athena Gold successfully completed the acquisition of the Forester Gold Project. This was achieved through a transaction involving the purchase of Last Bounty Gold Corp., a private entity that held a 100% interest in the project. The acquisition utilized an all-share deal involving 42 million common shares, which currently account for approximately 12% of Athena on a non-diluted basis.
These corporate actions were underpinned by a major structural change: Athena Gold announced and executed a 9.9-for-1 share consolidation. The board of directors approved this action under British Columbia’s Business Corporations Act. This consolidation is contingent upon approval from the Canadian Securities Exchange, with a record date set for April 2, 2026. These combined developments underscore several major steps in Athena Gold's strategic growth trajectory.
Risks
- The stock has experienced a 35% decline year-to-date, indicating significant market pressure or uncertainty surrounding the company's valuation.
- Multiple corporate actions, including the 9.9-for-1 share consolidation and other transactions, are subject to regulatory approval from bodies like the Canadian Securities Exchange.
- The value of executive holdings (options and warrants) is tied to future performance and exercise prices, which can be affected by market volatility.
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Risks
- The stock has experienced a 35% decline year-to-date, indicating significant market pressure or uncertainty surrounding the company's valuation.
- Multiple corporate actions, including the 9.9-for-1 share consolidation and other transactions, are subject to regulatory approval from bodies like the Canadian Securities Exchange.
- The value of executive holdings (options and warrants) is tied to future performance and exercise prices, which can be affected by market volatility.