VANCOUVER, BC / ACCESSWIRE / December 30, 2021 / Atomic Minerals Society (formerly Resolve Ventures Inc.) (“ATOMIC MINERALS“or the” Company “) (TSXV: ATOM) is pleased to announce that, following its press releases dated November 30, 2021 and December 21, 2021, the Company has closed the first tranche of its Private Placement and issued 13,517,665 Units (“Units”) $ 0.075 per Unit for gross proceeds of $ 1,013,824.89 (the “First Tranche”).
Each unit consists of one common share at $ 0.075 per common share and one warrant exercisable at $ 0.10 per common share for two years from closing.
A cash finder’s fee totaling $ 72,713.49 was paid and 969,513 B warrants were issued to finders which have the same terms as warrants issued to all subscribers of the private placement.
GloRes Securities Inc. for $ 4,000 and 53,333 B warrants; Canaccord Genuity Corp for $ 2,400 and 32,000 B warrants; Raymond James as to $ 9,600 and 128,000 warrants B, IA Capital Markets., As to $ 28,680 and 382,400 warrants B, EMD Financial Inc., as to $ 10,446 and 139,280 warrants B and Red Cloud Securities Inc. for $ 17,587.50 and 234,500 B.
All securities issued under the first tranche will have a legal holding period of four months and one day expiring on May 1, 2022. The closing of the first tranche of this private placement is subject to final acceptance by the Stock Exchange of TSX growth.
The use of the product will be for the technical advancement of its newly optioned Lloyd Lake uranium project (“Lloyd Lake”) and general working capital to enable the Company to operate other uranium assets.
Atomic Minerals President and CEO Clive Massey said: “After recently announcing our entry into uranium space, we are very excited not only about our uranium project. Newly optioned Lloyd Lake, but also that a uranium talent like Foster Wilson joining our board will be extremely important as we continue to examine and acquire additional uranium properties. “
About the Lloyd Lake Project
The Lloyd Lake Project is located immediately south of the Western Athabasca Basin, approximately 90 km southeast of the Patterson Lake Uranium Fission Project. Lloyd Lake was extensively explored by Western Athabasca Syndicate in 2013 as part of the Preston property, generating a large dataset, which includes: airborne electromagnetic and radiometric surveys, follow-up prospecting, systematic bottom sediment sampling lake and lake bottom water sampling for gaseous radon analysis and extensive soil, biogeochemical and soil radon studies, typically at a sampling spacing of 100 m to 200 m and a spacing of line from 200 m to 400 m. Radon gas is a decay product of uranium with abnormal concentrations indicating potential occurrences of uranium. Subsequent exploration focused on the anomalous areas identified by previous surveys and included mapping and prospecting phases, a multipurpose time domain electromagnetic and aeromagnetic survey (VTEM plus), and a VLF-EM airborne radiometric survey and magnetic. The Atomic technical team is currently compiling and reviewing the various datasets to generate targets for further exploration.
The technical content of this press release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC) a person qualified under National Instrument 43-101 and a member of the Atomic Advisory Council.
About the company
Atomic Minerals is a Vancouver-based publicly traded uranium exploration company listed on the TSX Venture Exchange. The Company is led by a highly qualified management and technical team with many previous successes in the junior mining sector.
For more information about the Company, call (604) 644-6794.
ON BEHALF OF THE BOARD
Clive Massey, President
Neither the 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.
This press release contains certain statements which may be considered “forward-looking” statements. Forward-looking statements are statements which are not historical fact and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to”. “,” Estimate “,” plans “,” potential “and similar expressions, or that events or conditions” will “,” would “,” could “,” could “or” should “occur. Although Atomic Minerals Corporation believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results may differ materially from those of forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the management of Atomic Minerals Corporation as of the date the statements are made. Except as required by law, Atomic Minerals Corporation does not undertake to update these forward-looking statements in the event that the beliefs, estimates or opinions of management, or other factors, should change. ##
THE SOURCE: Atomic Minerals Society
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