Mr. Paul Stephen reports
ALTAN RIO ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
Altan Rio Minerals Ltd. has closed the first tranche of its previously announced non-brokered
private placement of up to $1-million. The first tranche of the private
placement raised gross proceeds of $503,355.65 through the sale of 50,335,565 common shares at a price of one cent per share.
The company will pay the following cash commissions in connection with the private placement: (i) $34,000
to Parkwise Corporation Pty. Ltd.; and (ii) $5,000 to Canaccord Genuity Corp.
The company intends to use the proceeds from the private placement to advance its interest in the
previously announced transaction with Surveyor Resources Pty. Ltd., to pay certain creditors, and for general
and administrative expenses.
The shares sold in the private placement are subject to a resale hold period under applicable Canadian
securities laws, which expires on June 14, 2020.
The company anticipates closing at least one more tranche of the private placement in the near future,
subject to the approval of the TSX Venture Exchange of a personal information form filed in
connection with the private placement.
We seek Safe Harbor.
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