Atomic Minerals Closes Second Tranche of Private Placement

Rhea-AI Summary

Atomic Minerals (TSXV: ATOM) has successfully closed the second and final tranche of its private placement offering, raising $105,000 through the issuance of 2,100,000 Units at $0.05 per Unit. This follows the first tranche closure on July 31, 2024, which raised $72,500. The total offering, comprising both tranches, amounts to $177,500 from 3,550,000 Units.

Each Unit consists of one Common Share and one transferrable Common Share purchase warrant, exercisable at $0.10 for two years. The Second Tranche Warrants expire on September 23, 2026. Finder's fees for the Second Tranche totaled $4,000 and 80,000 non-transferable warrants. Securities from the Second Tranche are subject to a hold period until January 24, 2025.

Positive

• Successfully raised $105,000 in the second tranche of private placement
• Total offering raised $177,500 across both tranches
• Each Unit includes a warrant, potentially providing additional future capital

Negative

• Dilution of existing shareholders due to issuance of new shares
• Relatively small amount of capital raised may not significantly impact company operations

Vancouver, British Columbia--(Newsfile Corp. - September 23, 2024) - Atomic Minerals Corporation (TSXV: ATOM) ("ATOMIC MINERALS" or the "Company") further to its news release on July 31^st, 2024 and September 9^th, 2024 wherein the Company announced its Private Placement Offering and closing of a first tranche, on July 31, 2024, the Company is pleased to announce that it has received TSX-V approval to close the second and final tranche of 2,100,000 Units at $0.05 per Unit for proceeds of up to $105,000 (the "Second Tranche").

The first and second tranche consists of 3,550,000 Units ("Units") at $0.05 per Unit for gross proceeds of $177,500 (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 on July 31, 2024, and 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.

The Company closed the Second Tranche of the Offering and has issued 2,100,000 Units at $0.05 per Unit for gross proceeds of $105,000. The Second Tranche Warrants expire on September 23, 2026. Pursuant to the applicable statutory hold period, all securities issued pursuant to the Second Tranche may not be transferred or sold until January 24, 2025.

Finder's fees were paid in the form of cash and warrants on a portion of the Second Tranche totaling $4,000 and 80,000 non-transferable finder's warrants. The finder's warrants entitle the holders to purchase one Common share at an exercise price of $0.10 per Common Share for a period of two (2) years expiring September 23, 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/224334

FAQ

How much did Atomic Minerals (TSXV: ATOM) raise in its second tranche of private placement?

Atomic Minerals raised $105,000 in the second tranche of its private placement by issuing 2,100,000 Units at $0.05 per Unit.

What is the total amount raised by Atomic Minerals (TSXV: ATOM) in its recent private placement?

Atomic Minerals raised a total of $177,500 across both tranches of its recent private placement.

When do the warrants from Atomic Minerals' (TSXV: ATOM) second tranche expire?

The warrants from Atomic Minerals' second tranche expire on September 23, 2026.

What is the exercise price of the warrants issued in Atomic Minerals' (TSXV: ATOM) private placement?

The warrants issued in Atomic Minerals' private placement have an exercise price of $0.10 per Common Share.