VANCOUVER, BC, June 23, 2020 /CNW/ - ATAC Resources Ltd.
(TSX-V: ATC) ("ATAC" or the "Company") announces a non-brokered
private placement offering (the "Offering") of up to C$1,000,000. The Offering will consist of the
sale of flow-through units at a price of C$0.23 per unit. Each unit will consist of one
flow-through common share and one-half (1/2) of a share purchase
warrant. Each whole warrant will entitle the holder to purchase one
additional common share at a price of C$0.27 for a period of two years from the closing
of the Offering.
"This financing allows us to expand our previously announced
Yukon exploration programs, which
will commence in the coming weeks." commented Graham Downs, ATAC's President and CEO. "Raising
additional flow-through funds gives us the ability to ramp up
drilling quickly at the Airstrip target while preserving our hard
dollar reserves for Nevada
exploration and general working capital."
The proceeds from the sale of the units will be used for
"Canadian exploration expenses" at the Company's Rackla Gold
project and other Canadian properties, and will qualify as
"flow-through mining expenditures" as defined in the Income Tax Act
(Canada). The Offering is subject
to regulatory acceptance.
Finder's fees or brokers' commissions may be paid in accordance
with TSX Venture Exchange policies.
All securities issued as part of the Offering will be subject to
a hold period in Canada of four
months plus one day from the closing of the Offering.
About ATAC
ATAC is a Vancouver-based
exploration company focused on advancing Yukon's premier precious and base metal
district and grassroots exploration in Nevada. Work on its ~1,700 km2
Rackla Gold Property in Yukon has
resulted in the Osiris Project Inferred Mineral Resource of
1,685,000 oz of gold at an average grade of 4.23 g/t (in 12.4 Mt),
a positive Preliminary Economic Assessment for the Tiger Gold
Deposit (Pre-tax NPV of $118.2M and
IRR of 54.5%), and numerous early-stage gold and base metal
discoveries. ATAC is well-financed with approximately $9 million in working capital.
On behalf of Management and the Board of Directors of ATAC
Resources Ltd.
Graham Downs, President and
CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
SOURCE ATAC Resources Ltd.