Atomic Minerals Closes First Tranche of Flow-Through and NFT Units
Vancouver, December 2, 2024 - Atomic Minerals Corp. (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") is pleased to announce that further to its November 15, 2024 news release, the Company has received conditional approval from the TSX Venture Exchange to close a first tranche of the NFT and FT Private Placements for total gross proceeds of $401,499.98 (the "First Tranche") by issuing 2,350,000 NFT Units at $0.05 per NFT Unit for gross proceeds of $117,500 and by issuing 4,733,333 FT Units at $0.06 per FT Unit for gross proceeds of $283,999.98.
A total of 7,083,333 Warrants were issued exercisable into one common share at $0.10 per common share to expire on November 29, 2026. Pursuant to the applicable statutory hold period, all securities issued pursuant to the First Tranche may not be transferred or sold until March 30, 2025.
Finder's fees were paid in the form of 8% cash, 4% common shares and 4% finder's warrants on a portion of the First Tranche totaling $20,800, 173,333 finder's common shares and 173,333 non-transferable finder's warrants. The finder's warrants entitle the holder to purchase one Common Share in the capital of the Company at an exercise price of $0.10 per Common Share for a period of two (2) years on or before expiry (Nov 29, 2026).
The entire gross proceeds from the issue and sale of the FT Units, excluding Warrant proceeds, will be used for Canadian exploration and development of the Company's projects in Saskatchewan and the proceeds from the issue and sale of NFT Units will be used for general working capital purposes.
About the Company
Atomic Minerals Corporation is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.
Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.
For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
"Clive Massey"
Clive H. Massey
President & CEO
For further information, please contact:
info@atomicminerals.ca
(604) 341-6870
Neither TSX Venture Exchange nor their 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.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232073