ATAC Resources Ltd. Announces C$2M Private Placements
ATAC Resources Ltd. Announces C$2M Private Placements
Canada NewsWire
VANCOUVER, BC, June 3, 2021
VANCOUVER, BC, June 3, 2021 /CNW/ - ATAC Resources Ltd. (TSXV: ATC) ("ATAC" or the "Company") announces the following non-brokered private placements (the "Offering"):
(a) | up to $1,505,000 by the sale of up to 8,600,000 units at a price of $0.175 per unit, each unit to consist of one common share and one-half (1/2) of a share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share at a price of $0.24 for a period of three years from closing; and |
(b) | up to $504,000 by the sale of up to 2,400,000 flow-through units at a price of $0.21 per flow-through unit, each flow-through unit to consist of one flow-through common share and one-half (1/2) of a share purchase warrant, with each whole warrant to entitle the holder to purchase one additional common share at a price of $0.24 for a period of three years from closing. |
"With the receipt of excellent prospecting results from last month's exploration program at our East Goldfield project in Nevada, we want to ensure we have the necessary funds to expand our 4,000 m drill program as results warrant," commented Graham Downs, ATAC's President and CEO. "The additional flow-through funds also give us the ability to expand the upcoming program at our road accessible Connaught Property in Yukon, which hosts a compelling and untested copper porphyry target".
The proceeds from the sale of the flow-through shares will be used for "Canadian exploration expenses" at the Company's Connaught Property, Rackla Gold Property and other Canadian properties, and will qualify as "flow-through mining expenditures" as defined in the Income Tax Act (Canada). The Offering is scheduled to close on or before June 22, 2021, and is subject to regulatory acceptance.
All of the securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from closing.
About ATAC
ATAC is a Vancouver-based exploration company focused on exploring for gold in Yukon and Nevada. Work on its ~1,700 km2 Rackla Gold Property in Yukon has resulted in the Osiris Project Inferred Mineral Resource of 1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of $118.2M and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC is well-financed with approximately $6 million in working capital.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, President and CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
SOURCE ATAC Resources Ltd.
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