Atco Mining Closes Private Placement
Vancouver, May 17, 2024 - Atco Mining Inc. (the "Company" or "Atco") (CSE: ATCM); (OTC: ATMGF); (Frankfurt: QP9) is pleased to announce that it has closed its non-brokered private placement (the "Offering") and has issued 4,114,870 flow-through units (each, an "FT Unit") at a price of $0.0575 per FT Unit for gross proceeds of $236,605. Each FT Unit consists of one common share of the Company and one transferable common share purchase warrant (each, a "Warrant") entitling the holder thereof to purchase one additional share at a price of $0.15 until May 17, 2026. The proceeds raised from the Offering will be used to incur Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act (Canada). All securities issued in the Offering are subject to a statutory four-month-and-one-day hold period expiring on September 18, 2024.
In connection with closing of the Offering, the Company paid finders' fees of $19,580 and issued 141,395 units (each, a "Finders' Unit") and 22,400 Warrants to certain arms-length parties who assisted in introducing subscribers. Each Finders' Unit is comprised of one common share of the Company and one Warrant.
About Atco Mining (CSE: ATCM):
Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is exploring for uranium in the Athabasca Basin as well as salt opportunities in Western Newfoundland. Investors are encouraged to visit the company's website here: www.atcomining.com
For further information contact:
Email: info@atcomining.com
Telephone: (604) 681-0084
www.atcomining.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. The Canadian Securities Exchange has not in any way approved nor disapproved the contents of this news release.
FORWARD LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company disclaims any intention or obligation to update or revise such information, except as required by applicable law.
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