By Devika Patel
Knoxville, Tenn., April 20 - Atlanta Gold Inc. said it completed a C$2.39 million non-brokered private placement of units. The deal priced for C$2 million with a 20% greenshoe on March 26.
The company sold 14,916,100 units at C$0.16 apiece. Of the units, 2,416,100 were part of the partially exercised greenshoe. 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, development and permitting expenditures on the company's gold property in Idaho and for working capital purposes.
Toronto-based Atlanta Gold is a gold exploration company.
| Issuer: | Atlanta Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2,386,576 (including C$386,576 greenshoe)
|
| Units: | 14,916,100
|
| 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
|
| Settlement date: | April 20
|
| Stock symbol: | TSX Venture: ATG
|
| Stock price: | C$0.215 at close March 25
|
| Market capitalization: | C$22 million
|
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