Business
Atomic Minerals Proceeds to Private Placement and Closes First Tranche
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2024) - Atomic Minerals Corporation (T...
About this update from Atomic Minerals Corporation
[{"type":"text","content":"\nAtomic Minerals Proceeds to Private Placement and Closes First TrancheVancouver, British Columbia--(Newsfile Corp. - July 31, 2024) - Atomic Minerals Corporation (TSXV: ATOM) (\"ATOMIC MINERALS\" or the \"Company\") is pleased to announce that the Company will proceed with a Private Placement (the \"Offering\") of up to 6,000,000 Units (\"Units\") at $0.05 per Unit for gross proceeds of up to $300,000. Each Unit consists of one Common Share and one transferrable Common Share purchase warrant (the \"Warrant\"). Each Warrant shall entitle the holder to purchase one Common Share at an exercise price of $0.10 per Common Share for a period of two (2) years following the date of closing.The Offering may be closed in one or more tranches and the Company has received conditional approval from the TSX Venture Exchange to close the first tranche of the Offering by issuing 1,450,000 Units at $0.05 per Unit for gross proceeds of $72,500 (\"First Tranche\"). The First Tranche Warrants expire on July 31, 2026. Pursuant to the applicable statutory hold period, all securities issued pursuant to the First Tranche may not be transferred or sold until December 1, 2024.8% Finder's fees were paid in the form of cash and warrants on a portion of the First Tranche totaling $4,800 and 96,000 non-transferable finder's warrants. The finder's warrants entitle the holders to purchase one Common Share in the capital of the Company at an exercise price of $0.10 per Common Share for a period of two (2) years expiring on July 31, 2026.About the Company Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading under the symbol ATOM, led by a highly skilled management and technical team with a proven track record in the junior mining sector. Atomic Minerals' objective is to identify exploration opportunities in regions that have been previously overlooked but are geologically similar to those with previous uranium discoveries. These underexplored areas hold immense potential and are in stable geopolitical and economic environments.Atomic Minerals' property portfolio contains uranium projects in three locations within North America, all of which have significant technical merit and or are known for hosting uranium production in the past. Three of the properties are located on the Colorado Plateau, an area which has prev...