August 9, 2010 — ATAC Resources Ltd. (“ATAC”) (TSX-V: ATC) is pleased to announce the closing of the following private placements, as originally announced by News Release dated July 16, 2010, as amended by News Release dated July 21, 2010:
- an 8,420,000 common share private placement at a price of CDN $1.85 per share, for aggregate subscription proceeds of CDN $15,577,000; and
- a 3,023,000 flow-through common share private placement at a price of CDN $2.15 per share, for aggregate subscription proceeds of CDN $6,499,450.
In connection with the closing of these private placements, ATAC has issued the following securities in payment of finders’ fees:
- 238,500 finders’ shares; and
- 686,580 finders’ warrants, each entitling the holder to purchase one common share at a price of $2.00 until February 5, 2012.
All of the securities issued in connection with the closing of these private placements, including the securities issued in payment of finders’ fees, are subject to a hold period in Canada until December 6, 2010.The proceeds from these private placements will be used to continue exploration on ATAC’s wholly-owned Rau property in the Keno Hill District of central Yukon and for general working capital purposes.
ATAC is a well-funded junior mining company focused on gold. For additional information concerning ATAC Resources Ltd. or its various exploration projects please visit ATAC’s website at www.atacresources.com.
Graham Downs, CEO
ATAC Resources Ltd.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.