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SERVICES OR FOR DISSEMINATION IN THE
VANCOUVER, BC, March 9, 2022 /CNW/ - ATAC Resources Ltd. (TSXV:
ATC) ("ATAC" or the "Company") is pleased to announce a
non-brokered private placement (the "Offering") of up to
C$3,000,000. The Offering will
consist of the sale of up to 18,750,000 flow-through units (the
"Units") at a price of $0.16 per
Unit. Each Unit will consist of one flow-through common share and
one-half (1/2) of a share purchase warrant, with each whole warrant
entitling the holder to purchase one additional common share at a
price of $0.22 for a period of two
years from closing.
"This financing supports our 2022 exploration program in BC
and Yukon, which will be anchored
by 2,000 m of diamond drilling at the
Osiris Gold Deposit and 5,000 m of
reverse circulation drilling at the Connaught Copper Property,"
commented Graham Downs, ATAC's
President and CEO. "Funds will also be used to ramp up
exploration at our recently acquired PIL Property in British Columbia, in the heart of the
Toodoggone region, with a phase 1 geophysical program in early
summer, and a phase 2 drill program in the fall. Raising these
flow-through funds gives us the ability to accelerate drill
programs targeting discovery and resource growth, and conduct
aggressive exploration in Yukon
The proceeds from the sale of the flow-through shares will be
used for "Canadian exploration expenses" at the Company's Connaught
Property, Rackla Gold Property, PIL Property and other Canadian
properties, and will qualify as "flow-through mining expenditures"
as defined in the Income Tax Act (Canada). The Offering is scheduled to close on
or before March 31, 2022, and 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.
ATAC is a Vancouver-based
exploration company focused on exploring for gold and copper in
Yukon, BC and 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),
the Tiger Deposit Measured & Indicated Mineral Resource of
464,000 oz of gold at an average grade of 3.19 g/t (in 4.5 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 over $5
million in working capital.
On behalf of ATAC Resources Ltd.
Graham Downs, President and
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.
Cautionary note regarding forward-looking statements:
This press release may contain "forward-looking information"
within the meaning of applicable securities laws. Readers are
cautioned to not place undue reliance on forward-looking
information. Actual results and developments may differ
materially from those contemplated by these statements. The
statements in this press release are made as of the date of this
press release. The Company undertakes no obligation to update
forward-looking information, except as required by securities
This news release does not constitute an offer to sell or
the solicitation of an offer to buy any securities in any
jurisdiction. Any securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933 (the
"Securities Act") and may not be offered or sold in the United States or to a U.S. person in the
absence of such registration or an exemption from the registration
requirements of the Securities Act and applicable U.S. state
securities laws. The issuer will not make any public offering of
the securities in the United
SOURCE ATAC Resources Ltd.