By Lisa Kerner
Charlotte, N.C., Nov. 23 - Atna Resources Ltd. announced Canaccord Adams Ltd. and CAT Brokerage AG will arrange a private placement of gold participating bonds that mature on Dec. 31, 2013.
The bonds will bear interest at 10% per year on the declining balance, according to an Atna news release.
Canaccord will also act as placing agent.
Atna said the bonds will represent a senior unsecured obligation of the company by way of a corporate guarantee.
The bonds will be redeemed in 16 equal quarterly installments of gold based on a gold equivalent amount.
The gold equivalent amount will equal the amount of the offering divided by the lesser of the London PM fixing price for gold at closing and the trailing 30-day average London PM fixing price for gold.
"We are very pleased to be able to avail ourselves of this innovative financing structure, which of the financing alternatives available to us, delivers what we believe to be the optimum value for our shareholders," Atna president and chief executive officer James Hesketh said in the release.
"This financing structure, which is non-dilutive to our share structure, will allow Atna to move towards construction of the Reward gold project."
Based in Golden, Colo., Atna is a mineral exploration and development company.
| Issuer: | Atna Resources Ltd.
|
| Issue: | Gold participating bonds
|
| Maturity: | Dec. 31, 2013
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| Coupon: | 10%
|
| Managers: | Canaccord Adams Ltd. and CAT Brokerage AG
|
| Distribution: | Private placement
|
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