Deal funds exploration; Macquarie Capital leads syndicate of agents
By Angela McDaniels
Tacoma, Wash., March 20 - ATAC Resources Ltd. said it granted a C$1.5 million over-allotment option to the agents for its previously announced C$6 million private placement of units.
The company plans to sell 3,333,333 units of one flow-through common share and one half-share warrant at C$1.80 per unit.
Each whole warrant is exercisable at C$2.70 for one year. The strike price is a 59.76% premium to the March 12 closing share price of C$1.69.
Settlement is expected to occur March 27.
The syndicate of agents is led by Macquarie Capital Markets Canada Ltd. and includes Raymond James Ltd. and Axemen Resource Capital Ltd.
Proceeds will be used for exploration.
ATAC is a gold exploration company based in Vancouver, B.C.
| Issuer: | ATAC Resources Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$6 million
|
| Greenshoe: | C$1.5 million
|
| Units: | 3,333,333
|
| Price: | C$1.80
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$2.70
|
| Agents: | Macquarie Capital Markets Canada Ltd. (lead), Raymond James Ltd. and Axemen Resource Capital Ltd.
|
| Pricing date: | March 13
|
| Settlement date: | March 27
|
| Stock symbol: | TSX Venture: ATC
|
| Stock price: | C$1.69 at close March 12
|
| Market capitalization: | C$180.31 million
|
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