TORONTO,
May 23, 2012 /CNW/ - Atlanta Gold
Inc. (TSXV: ATG; OTCQX: ATLDF) announces that following receipt
of TSX Venture Exchange approval for the shares for debt
transaction previously announced on May 10,
2012, it has issued 4,000,000 shares at a deemed price of
$0.05 per share in settlement of
outstanding debts relating to finders' fees payable in connection
with the Company's $3 million 6%
convertible debenture financing that closed in December 2011. The shares are subject to a
four-month hold period expiring September
24, 2012.
About the Company
Atlanta Gold Inc. holds through its 100%
owned subsidiary, Atlanta Gold Corporation, leases, options or
ownership interests in its Atlanta
properties which comprise approximately 2,159 acres (8.74 square
kilometers) located 90 air kilometers east of Boise, in Elmore
County, Idaho. A long history of mining makes Atlanta very suitable for development of new
mining projects. The Company is focused on advancing its core
asset, Atlanta, towards mine
development and production.
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 RELEASE.
SOURCE Atlanta Gold Inc.
