ATAC Resources (ATC-V) Update on Arcus Development Group (ADG-V) Investment
Oct 25, 2016 - to shareholders
In August 2016, ATAC announced the sale of its 50% Interest in the Dawson Gold Joint Venture with Arcus Development Group Inc. in exchange for 10,869,910 common shares and 5,000,000 share purchase warrants at a price of $0.20 for 5 years, in the capital of Arcus. At the conclusion of the sale ( see ATAC news release dated August 22, 2016), ATAC owned 19.99% of Arcus’ outstanding shares. Arcus’ Dan Man property shares its southern boundary with Goldcorp Inc.’s Coffee Gold Project in the White Gold District of west-central Yukon.
Yesterday, Arcus announced that through a series of financings, Goldcorp (G-T) intends to purchase up to 19.9% of Arcus’ outstanding shares. It is expected that when the financing closes, ATAC will own ~15.8% of Arcus’ outstanding shares.
For more information about Arcus, please visit their website at http://www.arcusdevelopmentgroup.com/s/Home.asp.
Sincerely,
Graham Downs
President & CEO of ATAC Resources Ltd.
About ATAC
ATAC is a Yukon-based exploration company focused on developing Canada’s only Carlin-type gold district at its 100% owned Rackla Gold Project. Recent work on the 1,700 km2 project has resulted in a positive Preliminary Economic Assessment for the Tiger Gold Deposit, drilling of multiple high-grade Carlin-type gold zones and the identification of numerous early-stage gold exploration targets. The Rackla Gold Project has no underlying royalties or third-party interests. ATAC also holds a 19.99% interest in Arcus Development Group Inc. whose Dan Man project shares its southern boundary with Goldcorp Inc.’s Coffee Gold Project in west-central Yukon. ATAC is well-financed with approximately $16 million in its treasury.
For further information, please contact:
Vanessa Pickering, Manager, Corporate Communications
ATAC Resources Ltd.
T: 604-687-2522 ext. 260
info@atacresources.com |
