TORONTO, Feb. 26 /CNW/ - Atlanta Gold Inc. (TSX: ATG) announced that it
has completed the second tranche of its C$5.6 million non-brokered private
placement offering of common shares at C$0.61 per share, previously announced
on February 5, 2008. The second tranche of 807,802 common shares at a price of
C$0.61 per share, for aggregate gross proceeds of C$492,759 was completed on
February 25th, following the initial closing on February 5th which raised
gross proceeds of C$4,507,078. Completion of the remaining C$600,000 of the
private placement is subject to disinterested shareholder approval which will
be sought at the Annual and Special Meeting of Shareholders scheduled for
April 24, 2008. The Company will use the net proceeds from the offering to
explore and develop its Atlanta gold property ("Atlanta") located in Idaho,
U.S.A. and for working capital purposes.
New Atlanta Project Office
Effective March 1, 2008, the Company will consolidate its engineering,
permitting and administrative offices into one office in Boise, Idaho. The new
office will provide greater cost efficiency and access to a skilled workforce
as the Atlanta project advances toward production. The Boise office will also
provide ready access to the project as well as the airport, city centre,
highways and other community services.
The new office location is Suite 101, 2417 Bank Drive, Boise, Idaho
About the Company
Atlanta Gold Inc. (TSX: ATG) holds through its 100% owned subsidiary,
Atlanta Gold Corporation, a 100% interest in the Atlanta property which
comprises 1,891 acres and is located 65 miles east of Boise, in Elmore County,
Idaho. Atlanta is in a historic mining district and is therefore suitable for
development of new mining projects.
The Company is focused on advancing its core asset, Atlanta, towards mine
development and production and on acquiring, exploring and developing other
attractive gold projects.
For further information:
For further information: Bill Baird, President and CEO, Telephone: (416)
777-0013, Fax: (416) 777-0014, E-mail: email@example.com