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ATAC Acknowledges Receipt of Offer from Victoria Gold Corp.
ATAC Acknowledges Receipt of Offer from Victoria Gold Corp. Canada NewsWire ...
About this update from Aterra Metals Inc.
[{"type":"text","content":"\n \n \n \n ATAC Acknowledges Receipt of Offer from Victoria Gold Corp.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 13, 2023\n \n \n /CNW/ - ATAC Resources Ltd. (\"ATAC\") (TSXV: ATC) (OTCQB: ATADF) confirms that on\n \n January 12, 2023\n \n , it received an unsolicited non-binding proposal from Victoria Gold Corp. (\"Victoria\") (TSX-V:VGCX) to acquire 100% of the issued share capital of ATAC for\n \n $0.12\n \n per ATAC share, payable in\n \n Victoria\n \n shares (the \"Offer\"). The Offer represented a 36.4% premium to ATAC's closing share price at the time of the Offer, as indicated above, was non-binding, and contained numerous deal conditions.\n \n \n \n \n \n \n \n \n \n Following receipt of the Offer, ATAC engaged Stikeman Elliott LLP and Agentis Capital Mining Partners as legal and financial advisors, respectively, to evaluate the proposal. After a thorough review, ATAC responded on\n \n January 19, 2023\n \n , that it did not believe the Offer fully captured the significant value of ATAC, including the district-scale precious and critical metals potential of its Rackla Gold Property (\"Rackla\") and ATAC's other properties in the\n \n Yukon\n \n and\n \n British Columbia\n \n . ATAC indicated that it was willing to engage in further discussions with\n \n Victoria\n \n related to a transaction that more fairly valued ATAC, including the significant investments made to-date at Rackla, the resources present at both the Osiris and Tiger gold deposits, exploration and other tax credits, the project's future upside and the potential of its portfolio of discovery-stage copper-gold projects in\n \n Yukon\n \n and\n \n British Columbia\n \n .\n \n \n \"\n \n The Rackla Gold Property represents an immense landholding with no underlying royalties. It encompasses two known mineral districts, with significant gold resources and vast precious, base and critical metals potential. ATAC has been actively exploring in\n \n Yukon\n \n for over 20 years and ha...