By Devika Patel
Knoxville, Tenn., March 26 - Atlanta Gold Inc. said it plans a C$2 million non-brokered private placement of units. There is a 20% over-allotment option.
The company will sell 12.5 million units at C$0.16 apiece. Each unit consists of one common share and one warrant, with each warrant exercisable at C$0.25 for two years.
Proceeds will be used for exploration, for development, for permitting expenditures on the company's Atlanta gold property in Idaho and for working capital.
Toronto-based Atlanta Gold is a gold exploration company.
| Issuer: | Atlanta Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2 million
|
| Greenshoe: | 20%
|
| Units: | 12.5 million
|
| Price: | C$0.16
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | March 26
|
| Stock symbol: | TSX Venture: ATG
|
| Stock price: | C$0.215 at close March 25
|
| Market capitalization: | C$20.5 million
|
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