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Altan Rio Minerals Ltd
Symbol AMO
Shares Issued 89,123,009
Close 2020-02-11 C$ 0.01
Recent Sedar Documents

Altan Rio closes $503,355 first tranche of placement

2020-02-13 22:53 ET - News Release

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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