ATAC Resources Ltd. Closes $1,000,000 Private Placement
June 30, 2020
June 30, 2020 – Vancouver, B.C. – ATAC Resources Ltd. (TSX-V: ATC) (“ATAC” or the “Company”) announces that it has closed the private placement announced on June 23, 2020. The private placement consisted of the sale of 4,347,827 flow-through units at a price of $0.23 per flow-through unit, each consisting of one flow-through common share and one-half (1/2) of a share purchase warrant, for gross proceeds of $1,000,000.21. Each whole warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.27 until June 30, 2022.
The proceeds from the private placement will be used for further exploration at the Company’s Rackla Gold Property in central Yukon and other Canadian properties.
The Company paid a cash finder’s fees totaling $60,000 and issued 260,870 finder warrants to Dundee Goodman Merchant Partners in connection with the closing of this private placement. Each finder warrant entitles the holder to purchase one non-flow-through common share of the Company at a price of $0.23 until June 30, 2022.
All of the securities issued pursuant to this private placement, including any shares that may be issued pursuant to the exercise of either the share purchase warrants forming part of the flow-through units or the finder warrants, are subject to a hold period in Canada until October 31, 2020.
ATAC is a Vancouver-based exploration company focused on advancing Yukon’s premier precious and base metal district and grassroots exploration in Nevada. Work on its ~1,700 km2 Rackla Gold Property in Yukon has resulted in the Osiris Project Inferred Mineral Resource of 1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt), a positive Preliminary Economic Assessment for the Tiger Gold Deposit (Pre-tax NPV of $118.2M and IRR of 54.5%), and numerous early-stage gold and base metal discoveries. ATAC is well-financed with approximately $10 million in working capital.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, President and CEO
For further information, please contact:
Andrew Carne, VP Corporate and Project Development
ATAC Resources Ltd.
T: 604-687-2522 ext. 242
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.