Non-brokered deal funds exploration and development of Rackla Project
By Devika Patel
Knoxville, Tenn., March 19 - ATAC Resources Ltd. said it plans a C$12.96 million non-brokered private placement of units with Agnico-Eagle Mines Ltd.
The company will sell 9.6 million units of one common share and one half-share warrant at C$1.35 per unit.
Each whole warrant is exercisable at C$2.10 for 18 months. The strike price is a 57.9% premium to the March 18 closing share price of C$1.33.
Proceeds will be used to continue exploration and development of the Rackla Gold Project in Yukon.
ATAC is a gold exploration company based in Vancouver, B.C.
| Issuer: | ATAC Resources Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$12.96 million
|
| Units: | 9.6 million
|
| Price: | C$1.35
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$2.10
|
| Agents: | Non-brokered
|
| Investor: | Agnico-Eagle Mines Ltd.
|
| Pricing date: | March 19
|
| Stock symbol: | TSX Venture: ATC
|
| Stock price: | C$1.33 at close March 18
|
| Market capitalization: | C$142.9 million
|
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