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Enter Symbol
or Name
USA
CA



Atac Resources Ltd
Symbol ATC
Shares Issued 113,418,136
Close 2014-03-26 C$ 1.07
Market Cap C$ 121,357,406
Recent Sedar Documents

Atac Resources closes $6.8-million private placement

2014-03-27 13:02 ET - News Release

Mr. Graham Downs reports

ATAC RESOURCES LTD. RAISES $6.8 MILLION THROUGH FLOW-THROUGH PRIVATE PLACEMENT

Atac Resources Ltd. has closed its flow-through private placement through a syndicate of agents led by Macquarie Capital Markets Canada Ltd., and including Raymond James Ltd. and Axemen Resource Capital Ltd., as previously announced on March 13, 2014.

The private placement consisted of the sale by the company of 3,781,441 flow-through units at a price of $1.80 per unit, for aggregate subscription proceeds of approximately $6,806,593. Each unit consisted of one flow-through common share and one-half of one non-flow-through common share purchase warrant, with each whole warrant entitling the holder to purchase one common share at a price of $2.70 until March 27, 2015, provided that the warrants are subject to an acceleration clause that will require their exercise within 30 calendar days of notice from the company in the event the company's shares as traded on the TSX Venture Exchange close at a price higher than $3.75 for a period of 10 consecutive trading days subsequent to the expiry of the applicable four-month hold period.

The proceeds from the private placement will be used by the company for exploration at its Rackla gold project located in Yukon, Canada, with the proceeds raised from the portion of the offering price allocated to the flow-through common shares to be used by the company to incur Canadian exploration expenses (as defined in the Income Tax Act (Canada)) on its Rackla gold project.

All of the securities issued pursuant to the private placement are subject to a hold period in Canada, which will expire on July 28, 2014. Commissions totalling $408,395.63 were paid to the syndicate in connection with the private placement.

We seek Safe Harbor.

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