Atomic Minerals Corp. Closes First Tranche of Private Placement for $1,013,825
VANCOUVER, BC / ACCESSWIRE / December 30, 2021 / Atomic Minerals Corporation (formerly Resolve Ventures Inc.) ("ATOMIC MINERALS" or the "Company") (TSXV:ATOM) is pleased to announce that, further to its news releases on November 30, 2021 and December 21, 2021, the Company has closed the first tranche of its Private Placement and issued 13,517,665 Units ("Units") at $0.075 per Unit for gross proceeds of $1,013,824.89 (the "First Tranche").
Each Unit is comprised of one common share at $0.075 per common share and one warrant exercisable at $0.10 per common share for two years from closing.
Cash Finder's fees totaling $72,713.49 was paid and 969,513 B Warrants were issued to finders which have the same terms as the warrants issued to all subscribers of the Private Placement.
GloRes Securities Inc. as to $4,000 and 53,333 B Warrants; Canaccord Genuity Corp as to $2,400 and 32,000 B Warrants; Raymond James as to $9,600 and 128,000 B Warrants, IA Capital Markets., as to $28,680 and 382,400 B Warrants, EMD Financial Inc., as to $10,446 and 139,280 B Warrants and Red Cloud Securities Inc. as to $17,587.50 and 234,500 B Warrants.
All securities issued pursuant to the First Tranche will have a statutory hold period of four months and one day expiring May 1, 2022. Closing of the First Tranche of this Private Placement is subject to the final acceptance of the TSX Venture Exchange.
Use of proceeds will be for the technical advancement of its newly optioned Lloyd Lake Uranium Project ("Lloyd Lake"), and general working capital to enable the Company to pursue further uranium assets.
Atomic Minerals President and CEO Clive Massey commented, "After recently announcing entering the Uranium space we are very excited, not only about our newly optioned Lloyd Lake Uranium Project, but also having a Uranium talent like Foster Wilson joining our board will be extremely important as we continue to review and acquire additional uranium properties."
About the Lloyd Lake Project
The Lloyd Lake project lies immediately south of the western Athabasca basin approximately 90 km SE of Fission Uranium's Patterson Lake project. Lloyd Lake was extensively explored by Western Athabasca Syndicate in 2013 as part of the Preston property, generating a significant dataset, which includes: airborne EM-magnetic and radiometric surveys, follow-up prospecting, systematic lake-bottom sediment sampling and lake-bottom water sampling for radon gas analysis, and broad soil, biogeochemical and radon-in-soil surveys, generally at 100 m to 200 m sample spacing and 200 m to 400 m line spacing. Radon gas is a decay product of uranium with anomalous concentrations indicative of potential uranium occurrences. Subsequent exploration concentrated on anomalous areas identified by the earlier surveys, and included phases of mapping and prospecting, a versatile time-domain electromagnetic (VTEM plus) and aeromagnetic survey and an airborne radiometric-VLF-EM and magnetic survey. Atomic's technical team is in the process of compiling and reviewing the various datasets to generate targets for upcoming exploration.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC) a Qualified Person under National Instrument 43-101 and member of the Atomic Advisory Board.
About the Company
Atomic Minerals is a Vancouver based publicly listed uranium exploration company trading on the TSX Venture Exchange. The Company is led by a highly skilled management and technical team with numerous previous successes in the junior mining sector.
For further information on the Company, call (604) 644-6794.
ON BEHALF OF THE BOARD
Clive Massey, President
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.
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.Back To Archive