ATAC Resources Ltd. Closes C$1M Flow-Through Private Placement
VANCOUVER, April 16, 2021 - ATAC Resources Ltd. (TSXV: ATC) ("ATAC" or the "Company") announces that it has closed the non-brokered private placement announced on April 9, 2021, consisting of the sale of 4,800,000 flow-through common shares at a price of C$0.21 per share, for aggregate subscription proceeds of C$1,008,000. 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 and other Canadian properties, and will qualify as "flow-through mining expenditures" as defined in the Income Tax Act (Canada).
All of the securities issued pursuant to the private placement are subject to a hold period in Canada until August 17, 2021.
About ATAC
ATAC is a Vancouver-based exploration company focused on exploring for gold in Yukon 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), 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 approximately $6.5 million in working capital.
On behalf of Management and the Board of Directors of ATAC Resources Ltd.
Graham Downs, President and CEO
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SOURCE ATAC Resources Ltd.
Contact
Andrew Carne, M.Eng., P.Eng., VP Corporate and Project Development, ATAC Resources Ltd., T: 604-687-2522 ext. 242, acarne@atacresources.com