Key Developments: Atlanta Gold Inc (ATLDF.PK)
0.04USD
10 May 2013
$-0.01 (-14.03%)
$0.04
$0.04
$0.04
$0.04
45,500
2,418
$0.05
$0.01
Latest Key Developments (Source: Significant Developments)
Atlanta Gold Inc Launches $8 Million Senior Secured Gold Notes Private Placement
Atlanta Gold Inc announced that it intends to complete a private placement of senior secured gold notes (Gold Notes) for gross proceeds of up to $8 million. The Gold Notes will be sold as part of a Unit, with each Unit consisting of $1.00 principal amount Gold Notes and one common share purchase warrant, exercisable at CAD0.10 per share. Units will be issued in minimum denominations of $100,000. The warrants will be exercisable at an exercise price of C$0.10 per share until November 30, 2015. The Company will have the right to accelerate the expiry date of the warrants if the closing price of the Company's common shares on the TSX Venture Exchange exceeds $0.25 for 20 consecutive days on which the Company's shares trade. Net proceeds from the offering will be used for exploration, excavating and test processing of bulk samples, environmental permitting, engineering and development in respect of the Atlanta Project, to reduce indebtedness and for general working capital purposes. Completion of the offering is subject to the approval of the TSX Venture Exchange and the execution of definitive documentation. All securities issued under the offering will be subject to a four-month statutory hold period. Certain insiders of the Company may participate in the offering. Full Article
Atlanta Gold Inc Completes $870,000 Private Placement
Atlanta Gold Inc announced that it has completed its previously announced $870,000 private placement offering of Units (see news releases of November 5 and December 11 , 2012). On November 9 th , the Company had issued 12,120,000 Units at a price of $0.05 per Unit for gross proceeds of $606,000 and issued an additional 5,280,000 Units for additional proceeds of $264,000 , for aggregate gross proceeds of $870,000 . Each Unit consisted of one common share and one common share purchase warrant. Each warrant is exercisable for a period of 24 months from closing of the offering and will entitle the holder to purchase one additional common share at $0.10 for the initial 12 months from closing and at $0.15 per share thereafter. The Company has the right to accelerate the expiry date of the warrants if the closing price of the Company's common shares on the TSX Venture Exchange exceeds $0.20 for 20 consecutive days on which the Company's shares trade. Net proceeds from the offering will be used to reduce indebtedness and for general working capital purposes. Full Article
Atlanta Gold Inc Announces To Increase Size Of Private Placement
Atlanta Gold Inc announced that due to demand from investors, it intends to increase the size of its non-brokered private placement, as previously announced by news release of November 5, 2012 , from a maximum of 15,000,000 to 17,400,000 Units at a price of $0.05 per Unit, for gross proceeds of up to $870,000 . All other terms of the financing will remain the same as previously announced. Each Unit will consist of one common share and one warrant to purchase a common share of the Company. Each whole warrant is exercisable for a period of 24 months from closing of the offering and will entitle the holder to purchase one additional common share at $0.10 for the initial 12 months from closing and at $0.15 per share thereafter. The Company has the right to accelerate the expiry date of the warrants if the closing price of the Company's common shares on the TSX Venture Exchange ("TSXV") exceeds $0.20 for 20 consecutive days on which the Company's shares trade. Net proceeds from the offering will be used to reduce indebtedness and for general working capital purposes. Full Article
Atlanta Gold Inc Completes Initial Tranche of Private Placement
Atlanta Gold Inc announced that it has completed an initial tranche of its previously announced $750,000 private placement offering of Units for gross proceeds of $606,000. The Company issued 12,120,000 Units at a price of $0.05 per Unit, with each Unit consisting of one common share and one common share purchase warrant. Each warrant is exercisable for a period of 24 months from closing of the offering and will entitle the holder to purchase one additional common share at $0.10 for the initial 12 months from closing and at $0.15 per share thereafter.Net proceeds from the offering will be used to reduce indebtedness and for general working capital purposes. Full Article
Atlanta Gold Inc Announces $750,000 Private Placement
Atlanta Gold Inc announced that it intends to complete a non-brokered private placement of up to 15,000,000 Units at a price of $0.05 per Unit for gross proceeds of up to $750,000. Each Unit will consist of one common share and one warrant to purchase a common share of the Company. Each whole warrant is exercisable for a period of 24 months from closing of the offering and will entitle the holder to purchase one additional common share at $0.10 for the initial 12 months from closing and at $0.15 per share thereafter. The Company has the right to accelerate the expiry date of the warrants if the closing price of the Company's common shares on the TSX Venture Exchange (TSXV) exceeds $0.20 for 20 consecutive days on which the Company's shares trade. Net proceeds from the offering will be used to reduce indebtedness and for general working capital purposes. Full Article
Atlanta Gold Inc Completes $500,000 Private Placement
Atlanta Gold Inc announced that it has completed the previously announced private placement offering of Units (see news release of September 25, 2012) for gross proceeds of $500,000. The Company issued 16,666,666 Units at a price of $0.03 per Unit, with each Unit consisting of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable for a period of up to 24 months from closing of the offering and will entitle the holder to purchase one additional common share at $0.05 for the initial 12 months from closing and at $0.10 per share thereafter. The Company has the right to accelerate the expiry date of the warrants if the closing price of the Company's common shares on the TSX Venture Exchange exceeds $0.15 for 20 consecutive days on which the Company's shares trade. Approximately $261,000 of the net proceeds from the offering will be used to reduce existing trade payables and the balance will be used for general working capital purposes, including payment of salaries, rental and lease payments and listing fees. Full Article
Atlanta Gold Inc To Complete $500,000 Private Placement
Atlanta Gold Inc announced that it intends to complete a non-brokered private placement of up to 16,666,666 Units at a price of $0.03 per Unit for gross proceeds of up to $500,000. Each Unit will consist of one common share and one-half of one warrant to purchase a common share of the Company. Each whole warrant is exercisable for a period of 24 months from closing of the offering and will entitle the holder to purchase one additional common share at $0.05 for the initial 12 months from closing and at $0.10 per share thereafter. The Company has the right to accelerate the expiry date of the warrants if the closing price of the Company's common shares on the TSX Venture Exchange (TSXV) exceeds $0.15 for 20 consecutive days on which ATG's shares trade. Net proceeds from the offering will be used to reduce indebtedness and for general working capital purposes. The Company will pay a finder's fee to registrants consisting of a 4% cash commission and 4% compensation options, with each compensation option entitling the holder to purchase one common share at a price of $0.10 per share for one year. All securities issued under the offering will be subject to a four-month statutory hold period. Completion of the offering is subject to TSXV approval. Approval of the private placement is being sought pursuant to the TSXV's Notice to Issuers dated August 17, 2012, regarding Temporary Relief from Certain Pricing Requirements. Full Article
Atlanta Gold Inc Completes Shares For Debt Transaction
Atlanta Gold Inc announced that following receipt of the approval of the TSX Venture Exchange, it has issued 16,335,909 common shares at a deemed price of $0.05 per share in satisfaction of approximately $816,795 of outstanding indebtedness. As was announced in the Company's news release of August 31, 2012, the indebtedness consisted of trade payables and loans from shareholders and included approximately $662,448 owed to three insiders of the Company in respect of shareholder loans. The shares are subject to a four month hold period expiring January 7, 2013. Full Article
Atlanta Gold Inc Announces Shares For Debt Agreements
Atlanta Gold Inc announced that it has entered into agreements to satisfy outstanding indebtedness of approximately $816,720 by the issuance of 16,335,909 common shares at a deemed price of $0.05 per share. The indebtedness consists of trade payables and loans from shareholders and includes approximately $662,448 owed to three insiders of the Company in respect of shareholder loans. Full Article
Atlanta Gold Inc Appoints Wm. Ernest Simmons As President And CEO
Atlanta Gold Inc announced that Wm. Ernest Simmons, formerly Vice President, Mining and Chief Operating Officer of the Company, has been appointed President and CEO of the Company to facilitate transition of the Atlanta gold project from exploration through ongoing development. Full Article
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