Atomic Minerals closes $716,282 private placement

Executive Summary

• Atomic Minerals Corp. closed two concurrent non-brokered private placements totaling $2.2 million in gross proceeds through the Listed Issuer Financing Exemption (LIFE) and a standard private placement.
• The company granted 6.4 million stock options to directors, employees, and consultants, with 3.4 million of those options granted to directors constituting a related-party transaction.
• Net proceeds from the financing are intended for exploration activities at uranium projects in Saskatchewan and the Colorado Plateau, as well as general administrative expenses.

Key Details

• LIFE Offering Closing:
  • Closed 14,325,634 units at $0.05 per unit.
  • Gross proceeds: $716,282.
  • Securities are not subject to a hold period under Canadian securities laws.
• Concurrent Private Placement Closing:
  • Closed 29,674,366 units at $0.05 per unit.
  • Gross proceeds: $1,483,718.
  • Securities are subject to a statutory hold period ending four months and one day after the closing date.
• Total Gross Proceeds: $2,200,000 ($716,282 + $1,483,718).
• Unit Structure: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms (Investors):
  • Each warrant entitles the holder to acquire one share at $0.10 per share.
  • Exercise period: 12 months from issuance.
  • LIFE offering warrants have a 60-day waiting period before exercisability.
• Finder’s Fees and Compensation:
  • Total cash fees paid: $97,650.
  • Warrants issued to finders: 1,926,000 non-transferable warrants.
  • Finder warrant terms: Exercisable to acquire one share at $0.10 per share for a period of one year from the date of issue.
• Use of Proceeds: Financing exploration activities at uranium projects in Saskatchewan and the Colorado Plateau (USA), and for general administrative expenses.
• Regulatory Status: Closing remains subject to TSX Venture Exchange approval.
• Option Grants:
  • Total options granted: 6.4 million.
  • Exercise price: $0.10 per share.
  • Term: 5 years.
  • Recipients: Directors, employees, and consultants.
  • Related-Party Transaction: 3.4 million options granted to directors.
  • Exemptions: Exempt from formal valuation and minority shareholder approval requirements under MI 61-101 (sections 5.5(b) and 5.7(1)(a)).