Atacama Pacific Gold Corporation (TSX-V:ATM) is pleased to announce that it has closed the first tranche of a non-brokered private placement of units at an issue price of C$0.20 per Unit. In connection with the closing of the first tranche of the Private Placement, Atacama Pacific issued 8,765,000 Units for gross proceeds of C$1,753,000.
Each Unit is comprised of one common share and one-half common share purchase warrant. Each full Warrant entitles the holder to subscribe for one additional common share at an exercise price of C$0.25 at any time prior to 36 months from the date of issuance.
In connection with the closing of the first tranche of the Private Placement, the Corporation paid a finder’s fee of C$17,650 and 88,250 broker warrants to an agent. Each broker warrant entitles the holder to subscribe for one common share at an exercise price of C$0.25 at any time prior to 12 months from the date of issuance.
The proceeds raised from the Private Placement will be used to advance Atacama Pacific’s Cerro Maricunga Oxide Gold Project located in Chile’s Maricunga Mineral Belt as well as for working capital requirements and other general corporate purposes.
The Private Placement is subject to final approval from the TSX Venture Exchange. All securities, including the underlying securities, issued pursuant to the first tranche of the Private Placement are subject to a four month hold period in accordance with applicable Canadian securities laws.
This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
About Atacama Pacific Gold Corporation
Atacama Pacific’s business is the acquisition, exploration and development of precious metals resource properties in Chile. Atacama Pacific’s principal mineral property is the Cerro Maricunga oxide-associated, breccia-hosted gold project, located in Region III, 140 kilometres by road northeast of the city of Copiapo. Atacama Pacific’s goal is to become a producer of gold through the development of the Cerro Maricunga Gold Project.
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