Atlanta Gold Completes Shares for Debt Transaction
TORONTO, Sept. 7, 2012 /CNW/ - Atlanta Gold Inc. (TSXV: ATG; OTCQX: ATLDF) announces that following receipt of the approval of the TSX Venture Exchange, it has issued 16,335,909 common shares at a deemed price of $0.05 per share in satisfaction of approximately $816,795 of outstanding indebtedness. As was announced in the Company's news release of August 31, 2012, the indebtedness consisted of trade payables and loans from shareholders and included approximately $662,448 owed to three insiders of the Company in respect of shareholder loans. The shares are subject to a four month hold period expiring January 7, 2013.
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation, leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometers) located 90 air kilometers east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects. The Company is focused on advancing its core asset, Atlanta, towards mine development and production.
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.
SOURCE: Atlanta Gold Inc.For further information:
Atlanta Gold Inc.:
Wm. Ernest Simmons
President and CEO
Atlanta Gold Inc.
Vice President and CFO
Telephone: (416) 777-0013
Fax: (416) 777-0014
CHF Investor Relations
Senior Account Manager
Telephone: (416) 868-1079 ext 239
Fax: (416) 868-6198