By Devika Patel
Knoxville, Tenn., Dec. 23 - Atlanta Gold Inc. said it settled the initial tranche of a C$2.5 million non-brokered private placement of units for C$1.63 million. The deal priced Dec. 2.
The company sold 16,324,000 units at C$0.10 apiece in this tranche.
It plans to sell 25 million units. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for two years.
The warrants may expire sooner if the company's shares close at C$0.50 or higher for 20 consecutive days.
Toronto-based Atlanta Gold is a gold exploration company.
| Issuer: | Atlanta Gold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.5 million
|
| Units: | 25 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 2
|
| Settlement date: | Dec. 23 (for C$1,632,400)
|
| Stock symbol: | Toronto: ATG
|
| Stock price: | C$0.13 at close Dec. 2
|
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