Mining
Tuesday, May 21st, 2024 2:06 pm EDT
Key Points
- Private Placement Closure: Atco Mining Inc. successfully closed a non-brokered private placement, issuing 4,114,870 flow-through units at $0.0575 per unit, raising gross proceeds of $236,605. Each unit includes one common share and one transferable warrant, exercisable at $0.15 until May 17, 2026.
- Use of Proceeds and Securities Hold Period: The proceeds from the offering will be used for Canadian exploration expenses. All issued securities are subject to a hold period expiring on September 18, 2024.
- Finders’ Fees and Units Issued: The company paid finders’ fees of $19,580, issued 141,395 finders’ units (each with one common share and one warrant), and 22,400 additional warrants to certain arms-length parties who assisted in the offering.
Vancouver, British Columbia – TheNewswire – May 17, 2024 – Atco Mining Inc. (the “Company” or “Atco”) (CSE: ATCM); (OTC: ATMGF); (Frankfurt: QP9) is pleased to announce that it has closed its non-brokered private placement (the “Offering”) and has issued 4,114,870 flow-through units (each, an “FT Unit”) at a price of $0.0575 per FT Unit for gross proceeds of $236,605. Each FT Unit consists of one common share of the Company and one transferable common share purchase warrant (each, a “Warrant”) entitling the holder thereof to purchase one additional share at a price of $0.15 until May 17, 2026.
The proceeds raised from the Offering will be used to incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act (Canada). All securities issued in the Offering are subject to a statutory four-month-and-one-day hold period expiring on September 18, 2024.
In connection with closing of the Offering, the Company paid finders’ fees of $19,580 and issued 141,395 units (each, a “Finders’ Unit”) and 22,400 Warrants to certain arms-length parties who assisted in introducing subscribers. Each Finders’ Unit is comprised of one common share of the Company and one Warrant.
About Atco Mining (CSE: ATCM):
Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is exploring for uranium in the Athabasca Basin as well as salt opportunities in Western Newfoundland. Investors are encouraged to visit the company’s website here: www.atcomining.com
For further information contact:
Atco Mining Inc.
Email: info@atcomining.com
Telephone: (604) 681-0084
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way approved nor disapproved the contents of this news release.
