By Laura Lutz
Washington, Feb. 16 - Atomic Minerals Ltd. plans to conduct a private placement of units for up to C$6 million.
The company intends to sell up to 12 million units of one share and one half-share non-transferable warrant at C$0.50 per unit. Each whole warrant will be exercisable at C$0.75 for two years.
Expiry of the warrants may be accelerated to 30 days if the company's shares trade at or above C$1.25 for 20 consecutive trading days.
Blackmont Capital Inc. and J.F. Mackie & Co. Ltd. will act as co-lead agents for C$4 million of the placement. The remainder will be non-brokered.
Some of the proceeds will be used to fund the company's proposed acquisition of 0754257 B.C. Ltd., which is expected to serve as Atomic's qualifying transaction for the TSX Venture Exchange. The proceeds will also be used to fund exploration.
Atomic is a mineral exploration company based in Vancouver, B.C.
| Issuer: | Atomic Minerals Ltd.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$6 million
|
| Units: | 12 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agents: | Blackmont Capital Inc. (lead), J.F. Mackie & Co. Ltd. (lead) for C$4 million; non-brokered for C$2 million
|
| Pricing date: | Feb. 16
|
| Stock symbol: | TSX Venture: ATL.P
|
| Stock price: | C$0.445 at close Feb. 15
|
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