By Laura Lutz
Des Moines, May 24 - Atomic Minerals Ltd. increased the maximum size of its previously announced private placement of units to C$6.35 million from C$6 million.
The company now plans to sell up to 12.7 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.
Settlement of the qualifying transaction and the private placement are tentatively scheduled for May 31.
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$6.35 million
|
| Units: | 12.7 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 remainder
|
| Pricing date: | Feb. 16
|
| Upsized: | May 24
|
| Settlement date: | May 31
|
| Stock symbol: | TSX Venture: ATL.P
|
| Stock price: | C$0.445 at close Feb. 15
|
| Stock price: | C$0.445 at close May 24
|
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