Atlantic Gold (AGB-V) May 16, '16 is pleased to announce the completion of a bought deal private placement financing for gross proceeds of $14,375,046 through the issuance of 23,958,410 common shares of the Company at a price of $0.60 per share, co-led by PI Financial Corp., Canaccord Genuity Corp., and Haywood Securities Inc. The Brokered Offering was originally announced on April 28, 2016 for gross proceeds of $12,500,040, with the exercise of the over-allotment option to raise an additional $1,875,006 of gross proceeds announced on May 2, 2016.
The Company also announces the completion of a non-brokered private placement financing for gross proceeds of $13,544,000 (the “Non-Brokered Offering”, and together with the Brokered Offering, the “Offerings”) through the issuance of 22,573,329 common shares of the Company at the Offering Price. The Non-Brokered Offering was originally announced on April 28, 2016 for gross proceeds of $12,500,040, with the over-allotment option to raise an additional $1,043,960 exercised on May 14, 2016.
The proceeds from the Offerings will be used for working capital purposes.
In consideration for the services of the Underwriters under the Brokered Offering, the Underwriters received a cash commission equal to 6% of the proceeds raised under the Brokered Offering. The Company paid finders fees in connection with the Non-Brokered Offering totaling $115,900. The securities issued by the Company in connection with the Offerings are subject to a 4-month "hold period" expiring on September 17, 2016 as prescribed by the TSX Venture Exchange and applicable securities laws.
On behalf of the Board of Directors,
Steven Dean
Chairman and Chief Executive Officer
For further information about Atlantic, please contact:
Chris Batalha (CFO and Corporate Secretary)
+1 604 689-5564
atlanticgoldcorporation.com
Atlantic Gold Corporation
Suite 3083, Three Bentall Centre
595 Burrard Street, P.O. Box 49298
Vancouver, British Columbia
Canada V7X 1L3 |
