June 17, 2009– Strategic Metals Ltd. (TSX-V: SMD) (“Strategic”) announces that it has acquired, by way of private placement, 2,000,000 units of ATAC Resources Ltd. (“ATAC”) at a price of $0.36 per unit (of a total of 3,159,443 units sold by ATAC pursuant to this private placement). Each unit consisted of one “flow-through” common share and one-half (1/2) of a share purchase warrant, with each whole warrant entitling the holder to subscribe for one additional “flow-through” common share of ATAC at a price of $0.50 per share until June 15, 2011. (ATAC is a reporting issuer whose shares trade on the TSX Venture Exchange under the symbol “ATC” of which certain of the directors and/or officers of Strategic are also directors and/or officers.) Strategic has acquired these securities for investment purposes, and may increase its ownership of securities of ATAC in the future, depending upon market conditions.
As a result of Strategic’s purchase of these additional securities of ATAC, it now holds the following securities of ATAC:
- 8,806,286 common shares, representing 17.82% of the 49,412,596 common shares of ATAC issued and outstanding following the completion of the private placement; and
- 1,000,000 share purchase warrants, entitling it to purchase up to an additional 1,000,000 “flow-through” common shares of ATAC at a price of $0.50 per share until June 15, 2011.
Strategic also announces that it has filed the requisite updated Early Warning Report on SEDAR as a result of its acquisition of these additional common shares of ATAC.
For further information concerning Strategic Metals Ltd. or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Strategic Metals Ltd.
STRATEGIC METALS LTD.
Per: W. Douglas Eaton, President and Chief Executive Officer
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.View News Release in PDF