Atomic Minerals arranges $1.5M private placement

Executive Summary

• Atomic Minerals Corp. announced a non‑brokered private placement of up to 30 million units at $0.05 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit includes one common share and half of a transferable warrant; warrants are exercisable at $0.10 per share for one year, with possible acceleration if the share price reaches $0.20 for 10 consecutive days.
• Proceeds (excluding warrant proceeds) will be allocated to exploration and development of U‑bearing projects in the United States and Saskatchewan, as well as general working capital and accounts payable.

Key Details

• Financing Structure: Up to 30 million units; each unit = 1 common share + ½ transferable warrant.
• Pricing: $0.05 per unit (gross proceeds up to $1.5 M).
• Warrant Terms: Whole warrant exercisable into one common share at $0.10 per share for one year from closing.
• Accelerated Expiry Provision: If post‑closing share price ≥ $0.20 on TSX‑V (or other exchange) for 10 consecutive trading days, company may issue a news release to accelerate warrant expiry; accelerated warrants would then expire 30 days after such notice.
• Closing Mechanics: Placement may be closed in one or more tranches, subject to conditional TSX‑V approval.
• Finder’s Fee/Commission: Up to 8 % payable in cash, common shares, warrants, or a combination thereof, to parties introducing investors.
• Use of Proceeds (excluding warrant proceeds):
• Exploration and development of U projects in the United States (Colorado Plateau) and Saskatchewan (Athabasca region).
• General working capital purposes.
• Settlement of accounts payable.

Notable Quotes

(No direct quotes were provided in the release.)