ATAC Resources Ltd. Announces Flow-Through Private Placement
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
March 13, 2014 — Vancouver, B.C. — ATAC Resources Ltd. (“ATAC” or the “Company”) (TSX-V: ATC) is pleased to announce a flow-through private placement of 3,333,333 flow-through units at a price of $1.80 per flow-through unit (a “Unit”) for aggregate gross proceeds of approximately $6,000,000 (the “Offering”). Each Unit will consist of one flow-through common share and one-half (1/2) of one non-flow-through common share purchase warrant, with each whole warrant to entitle the holder to purchase one common share at a price of $2.70 for a period of 12 months from the closing of the private placement. Each warrant will be subject to an acceleration clause that will require their exercise within 30 calendar days of notice from the Company in the event that the Company’s shares as traded on the TSX Venture Exchange close at a price of higher than $3.75 per share for a period of 10 consecutive trading days subsequent to the expiry of the applicable four month hold period.
The Offering will be conducted on a private placement basis by a syndicate of agents (the “Agents”) led by Macquarie Capital Markets Canada Ltd. and including Raymond James Ltd. and Axemen Resource Capital Ltd. In connection with the Offering, ATAC will pay the Agents a cash commission equal to 6.0% of the gross proceeds of the Offering.
The net proceeds from the Offering will be used by the Company for exploration at its Rackla Gold Project located in the Yukon, Canada, with the net proceeds raised from the portion of the offering price allocated to the flow-through common shares to be used by the Company to incur Canadian exploration expenditures (as defined in the Income Tax Act (Canada)) on its Rackla Gold Project.
It is expected that the closing of the Offering will occur on or about March 27, 2014 (the “Closing Date”) and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange.
About ATAC
ATAC Resources Ltd. is a Yukon-based exploration company focused on developing Canada’s only Carlin-type gold district at its 100% owned Rackla Gold Project. Recent exploration on the 1,700 sq/km project has resulted in the delineation of the Tiger Gold Deposit, drilling of multiple high-grade Carlin-type gold zones and the identification of over 40 early-stage gold exploration targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC is well-positioned with over $19 million in its treasury.
On behalf of Management and the Board of Directors
of ATAC Resources Ltd.
Graham Downs, CEO
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for the sale of securities, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by mean of a prospectus containing detailed information about the company and management, as well as financial statements.
For further information, please contact:
Vanessa Pickering, Manager, Corporate Communications
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
[email protected]
NT2
544 total views, 2 views today
