July 14, 2003 – ATAC Resources Ltd. (the “Company”) announces that it has closed the $50,000 private placement announced July 4, 2003, consisting of 500,000 units at a price of $0.10 per unit. The initial 500,000 common shares issued pursuant to the private placement, and any of the up to 500,000 additional common shares which may be issued pursuant to the exercise of the share purchase warrants forming a part of the units, are subject to a hold period until November 12, 2003.
The Company also announces that it has negotiated, subject to regulatory acceptance, a $100,000 private placement, to consist of 1,000,000 units at a price of $0.10 per unit. Each unit will consist of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.10 for a period of one year from closing. The proceeds from this private placement will be used for working capital purposes.
For more information regarding the Company or its various properties, please contact Doug Eaton at 604-688-2568, or Tom Corcoran, Corporate Communications Manager toll free at 1-866-886-2568 or email: [email protected]
ATAC RESOURCES LTD.
Per: W. Douglas Eaton, President.View News Release in PDF