VANCOUVER, Feb. 22, 2019 /CNW/ - ATAC Resources Ltd. (TSX-V: ATC) ("ATAC" or the "Company") announces a non-brokered private placement offering (the "Offering") of up to $3,000,000. The Offering will consist of the sale of flow-through units at a price of $0.35 per flow-through unit. Each flow-through unit will consist of one flow-through common share and one-half (1/2) of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.425 for a period of two years from the closing of the Offering.
The proceeds from the sale of the flow-through units will be used for further exploration at the Company's Rackla Gold Property in central Yukon. The Offering is subject to regulatory acceptance.
Finder's fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies.
All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from the closing of the Offering.
ATAC is a Yukon-based exploration company focused on developing Canada's only Carlin-type gold district and intrusion related polymetallic targets at the Rackla Gold Property. Work on the ~1,700 km2 property 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 and multiple base metal discoveries. ATAC is well-financed with approximately $10 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.
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.
SOURCE ATAC Resources Ltd.
For further information: Matthew Keevil, VP, Corporate Affairs, ATAC Resources Ltd., T: 604-687-2522 ext. 260, [email protected]