ATAC announces $25 million private placement
ATAC Resources Ltd.
("ATAC" or the "Company") (TSX-V: ATC) is pleased to
announce that it has arranged a non-brokered private placement to
consist of the sale of up to 3,333,333 flow-through shares at a price
of CDN$7.50 per share, to raise gross proceeds of up to CDN $25 million
(the �Offering�).
The Company has
agreed to allocate a portion of the Offering to subscribers found by Axemen Resource Capital Ltd. (�Axemen�),
and may agree to similar allocations to other exempt market or
investment dealers. The Company will pay finder�s fees equal to 5% of
subscription amounts found, payable in cash or shares, plus issue
finder�s warrants in an amount equal to 5% of shares subscribed for,
with each such finder�s warrant to be exercisable into one common share
of the Company at a price of CDN$7.75 for 18 months from closing.
Closing of the
Offering is anticipated to occur on or before March 8, 2011 and is
subject to receipt of TSX Venture Exchange acceptance. Securities
issued under the Offering will be subject to a hold period which will
expire four months and one day from the date of closing.
The proceeds from
the Offering will be used to continue exploration on ATAC's
wholly-owned Rau Gold Project in the Keno Hill District of central
Yukon.
ATAC is a
well-funded, Yukon-based exploration company focused on developing
Canada�s only Carlin-type gold discovery at its 100% owned, Rau Gold
Project. For additional information concerning ATAC Resources Ltd.,
please visit our website at www.atacresources.com.
On behalf of the
Board,
Graham Downs, CEO
ATAC Resources Ltd.
For further
information, please contact:
Vanessa Pickering,
Manager, Corporate Communications
ATAC Resources Ltd.
T: 604-687-2522 ext. 60
vpickering@nordacres.com
This news release does
not constitute an offer to sell or a solicitation of an offer to buy
any of the securities of the Company in the United States. The
Company's securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
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 RELEASE.
This news release may
contain forward looking statements based on assumptions and judgments
of management regarding future events or results that may prove to be
inaccurate as a result of exploration and other risk factors beyond its
control, and actual results may differ materially from the expected
results.
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