Altima Resources Ltd.

Altima Resources Ltd.

August 10, 2012 18:46 ET

Altima Provides Update Regarding $15M Non-Brokered Convertible Debenture Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 10, 2012) - Altima Resources Ltd. (TSX VENTURE:ARH)(FRANKFURT:AKC) -


Altima Resources Ltd. (the "Company") announces that it anticipates closing the first tranche of its private placement to raise up to Cdn$15,000,000 through the issuance of convertible debentures (the "Debentures") on or about August 23, 2012, subject to acceptance by the TSX Venture Exchange (the "Exchange"). The Company further anticipates closing the final tranche by September 30, 2012. Refer to News Release dated June 8, 2012.


Joe DeVries, Director

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the completion of a private placement of convertible debentures to raise up to $15,000,000, and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include risks relating to: availability of capital and financing required to complete the proposed private placement and to continue the Company's exploration and development plans; general economic, market or business conditions; the actual results of current and planned exploration activities; fluctuating commodity prices; risks associated with property option agreements, leases, joint ventures and the ability to conclude joint venture agreements on favorable terms; possibility of accidents, equipment breakdowns and delays during exploration; exploration cost overruns or unanticipated costs and expenses; regulatory changes and restrictions including in relation to environmental liability; timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Neither the TSX Venture Exchange nor its 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.

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