Business
Atico Announces Plans for Financings for Aggregate of $20 Million
/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Atico Mining Corporation
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR DISSEMINATION IN\n THE UNITED STATES OF AMERICA/\n\n\nVANCOUVER, Aug. 15, 2013 /CNW/ - Atico Mining Corporation (TSX.V: ATY | OTC: ATCMF) is pleased to announce its plans to complete a brokered private\n placement for aggregate gross proceeds of C$10,035,000, a non-brokered\n private placement for aggregate gross proceeds of approximately\n C$2,025,000, a US$6,000,000 senior secured repayable debt facility and a private\n placement of an aggregate of US$2,000,000 of convertible debentures.\n\n\nBrokered Private Placement:\n\n\nAtico has entered into an agreement with a syndicate of agents led by Canaccord Genuity Corp. and including\n Stifel Nicolaus Canada Inc. and Stonecap Securities Inc. (the\n \"Agents\"), to sell 22,300,000 units (the \"Units\") on a private\n placement commercially reasonable efforts basis at a price of C$0.45\n per Unit for gross proceeds of up to C$10,035,000 (the \"Offering\"). In\n addition, the Company will grant the Agents an over-allotment option,\n exercisable prior to the closing of the Brokered Offering, to purchase\n from the Company up to an additional 6,700,000 Units at C$0.45 per Unit\n to raise additional gross proceeds of up to C$3,015,000 (the\n \"Over-Allotment Option\", and together with the Offering, the \"Brokered\n Offering\").\n\n\nThe closing of the Brokered Offering is expected to occur on or about\n September 10, 2013 or such other date as may be agreed upon by the\n Company and the Agents.\n\n\nEach Unit shall consist of one common share of the Company (\"Common\n Share\") and one half of one Common Share purchase warrant (each whole\n warrant, a \"Warrant\"). Each Warrant shall be exercisable into one\n common share of the Company for a period of 24 months from closing at\n an exercise price of C$0.65.\n\n\nCompletion of the Brokered Offering is subject to a number of\n conditions, including the completion of due diligence by the Agents,\n the negotiation and execution of definitive documentation, receipt of\n any required regulatory approvals, receipt of the approval of the TSX\n Venture Exchange (the \"Exchange\") for the listing on the Exchange of\n the common shares issuable on closing as well as the common shares\n issuable on exercise of the Warrants and such other conditions as are\n customary for transactions of...