By Laura Lutz
Des Moines, Aug. 15 - ATAC Resources Ltd. closed a downsized private placement of units for C$2.88 million.
The company sold 9 million units of one share and one warrant at C$0.32 per unit. Each warrant will be exercisable at C$0.50 for two years.
Expiry of the warrants may be accelerated to 21 days if the closing price of the company's shares is at least C$0.90 for 10 consecutive trading days.
Global NR Holding SA subscribed for 4 million units, and Exploration Capital Partners 1998-B LP subscribed for 3 million units.
The placement priced on July 17 as a C$3.2 million offering of 10 million units.
Proceeds will be used for exploration and working capital.
ATAC is an exploration company based in Vancouver, B.C.
| Issuer: | ATAC Resources Ltd.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.88 million
|
| Units: | 9 million
|
| Price: | C$0.32
|
| Warrants: | One per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.50
|
| Investors: | Global NR Holding SA (for 4 million units), Exploration Capital Partners 1998-B LP (for 3 million units)
|
| Pricing date: | July 17
|
| Settlement date: | Aug. 15
|
| Stock symbol: | TSX Venture: ATC
|
| Stock price: | C$0.54 at close Aug. 14
|
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