By Devika Patel
Knoxville, Tenn., Nov. 9 - ATAC Resources Ltd. announced it has increased a non-brokered private placement of units to C$6.95 million. The deal priced for C$6 million Nov. 5 alongside a C$2.2 million placement of stock.
The company will now sell 7,725,000 units at C$0.90 apiece. The units consist of one common share and one warrant. Each whole warrant will be exercisable at C$1.25 for two years. The units originally had a full warrant.
The company also will sell 2 million flow-through shares at C$1.10 apiece.
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 common share and a half-share warrant, flow-through shares
|
| Amount: | C$9,152,500
|
| Agent: | Non-brokered
|
| Pricing date: | Nov. 5
|
| Upsized: | Nov. 9
|
| Stock symbol: | TSX Venture: ATC
|
| Stock price: | C$0.93 at close Nov. 5
|
| Market capitalization: | C$52.8 million
|
|
|
| Units
|
| Amount: | C$6,952,500
|
| Units: | 7,725,000
|
| Price: | C$0.90
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.25
|
|
|
| Shares
|
| Amount: | C$2.2 million
|
| Units: | 2 million
|
| Price: | C$1.10
|
| Warrants: | No
|
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