Atomic Minerals Extends Closing of Second Tranche of Private Placement

Rhea-AI Summary

Atomic Minerals (TSXV: ATOM) has received TSX-V approval to extend the closing of its second tranche private placement to September 20, 2024. The second tranche aims to raise up to $227,500 through the issuance of 4,550,000 Units at $0.05 per Unit. This is part of a larger $300,000 private placement offering of up to 6,000,000 Units. Each Unit consists of one Common Share and one Warrant, exercisable at $0.10 for two years. The company has already closed the first tranche, raising $72,500 through 1,450,000 Units. Finder's fees of 8% were paid on a portion of the first tranche, totaling $4,800 and 96,000 non-transferable finder's warrants.

Positive

• Successful closing of first tranche, raising $72,500
• Potential to raise additional $227,500 in second tranche
• TSX-V approval received for extension of second tranche closing

Negative

• Dilution of existing shareholders' stakes due to new share issuance
• Relatively small capital raise of $300,000 may indicate growth prospects

Vancouver, British Columbia--(Newsfile Corp. - September 9, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") further to its news release on July 31, 2024 wherein the Company announced its Private Placement Offering and closing of a first tranche, the Company is pleased to announce that it has received TSX-V approval to extend the closing to September 20, 2024 for the second tranche of up to 4,550,000 Units at $0.05 per Unit for proceeds of up to $227,500.

The total Private Placement consists of up to 6,000,000 Units ("Units") at $0.05 per Unit for gross proceeds of up to $300,000 (the "Offering").

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 Company closed the first tranche of the Offering and has issued 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 between $0.05 and $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 previously produced 597 million pounds of U3O8; Three others are in the prolific Athabasca Basin region and nine uranium projects are located Northern Saskatchewan, encompassing a total exploration area of 6,495 hectares.

For additional information about the Company and its projects, please visit our website at www.atomicminerals.ca.

ON BEHALF OF THE BOARD OF DIRECTORS

"Clive Massey"

Clive H. Massey

President & CEO

For further information, please contact:
info@atomicminerals.ca
(604) 341-6870

Neither TSX Venture Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements:

This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Atomic Minerals Corporation management on the date the statements are made. Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222736

FAQ

What is the total amount Atomic Minerals (ATMMF) aims to raise in its private placement?

Atomic Minerals aims to raise up to $300,000 in total through its private placement offering of up to 6,000,000 Units at $0.05 per Unit.

When is the extended closing date for Atomic Minerals' (ATMMF) second tranche of private placement?

The extended closing date for Atomic Minerals' second tranche of private placement is September 20, 2024.

How much did Atomic Minerals (ATMMF) raise in the first tranche of its private placement?

Atomic Minerals raised $72,500 in the first tranche of its private placement by issuing 1,450,000 Units at $0.05 per Unit.

What are the terms of the warrants issued in Atomic Minerals' (ATMMF) private placement?

Each warrant entitles the holder to purchase one Common Share at an exercise price of $0.10 for a period of two years following the date of closing.