Welcome To The ATW Venture HUB On AGORACOM
Acquiring and consolidating gold producing assets in Australia's most prolific gold districts
Message: Closes First Tranche of Financing for Proceeds of $3,596,000
| March 31, 2009 |
| ATW Closes First Tranche of Financing for Proceeds of $3,596,000 |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2009) - ATW Gold Corp. (TSX VENTURE:ATW) ("ATW" or "the Company"), is pleased to announce that it has closed the first tranche of the Company's financing (the "Private Placement") of up to 7,710,000 units (the "Units") priced at $0.62 per Unit to raise up to $4,780,200. The private placement has been over subscribed and was originally announced on March 27, 2009 as being for 7,258,064 Units. The Private Placement is being closed in two tranches, with the first tranche of 5,800,000 units for gross proceeds of $3,596,000 having closed today. Of this $3,596,000, a total of $3,503,000 has been purchased by Sprott Asset Management Inc., as portfolio manager for various funds, and $93,000 was purchased by insiders. The second tranche is anticipated to close on or about April 3, 2009. Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable into one additional common share of the Company for one year from the closing date of the Private Placement (the "Closing Date") at an exercise price of $0.80 per common share. All securities issued pursuant to the Private Placement will be subject to a 4-month hold period from the Closing Date. Finders' fees, subject to TSX-V Exchange approval, will be payable on the non-insider portions of the Private Placement. The Private Placement is subject to approval from the TSX Venture Exchange. ATW GOLD CORP. Graham Harris, Chairman & Director |
Loading...
Loading...
New Message
Please
login
to post a reply