Original News Release
Atomic Minerals arranges $1.5M private placement
Mr. Clive Massey reports
ATOMIC MINERALS ANNOUNCES PRIVATE PLACEMENT OF UNITS
Atomic Minerals Corp. has arranged a non-brokered private placement financing of up to 30 million units at five cents per unit for gross proceeds of up to $1.5-million.
Each unit consists of one common share and one-half of one transferable warrant. Each whole warrant is exercisable into one common share at 10 cents per share for one year from closing. If, following the final closing date of the private placement, the company's common shares close at or above 20 cents on the TSX Venture Exchange (or such other exchange on which the shares may trade) for 10 consecutive trading days, the company may accelerate the warrant expiry date by issuing a news release. The warrants would then expire 30 days from the date of that notice.
The private placements may be closed in one or more tranches subject to conditional approval from the TSX-V.
Subject to compliance with applicable laws and TSX-V approval, the company may pay a finder's fee or commission of up to 8 per cent to persons who assist in the introduction of investors to the company, which without limiting the foregoing may include cash, common shares and warrants, or a combination thereof.
The gross proceeds from the issue and sale of the units, excluding warrant proceeds, will be used for exploration and development of the company's projects in the United States and Saskatchewan and for general working capital purposes and accounts payable.
About Atomic Minerals Corp.
Atomic Minerals is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM led by a highly skilled management and technical team with a proven record in the junior mining sector. Its objective at Atomic Minerals is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Currently, its property portfolio contains uranium projects with significant technical merit in two locations known for hosting uranium production in the past. The company has three on the Colorado Plateau, within the continental United States. The plateau has previously produced 597 million pounds of triuranium octoxide. The other recently acquired property is located in the prolific Athabasca region in Saskatchewan, Canada, and the Mount Laurier property recently acquired is located in Quebec, Canada.
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