Atikwa Minerals Corporation

Atikwa Minerals Corporation

April 28, 2009 17:40 ET

Atikwa Minerals Corporation Announces Expanded Financing

CALGARY, ALBERTA--(Marketwire - April 28, 2009) - Atikwa Minerals Corporation (TSX VENTURE:ATK) ("Atikwa" or the "Company") has approved, subject to Exchange approval, an expansion of its previously announced non-brokered equity financing (see the Company's News Release dated March 31, 2009) from $500,000 to a maximum of $950,000 in gross proceeds (the "Offering"), through the issuance of up to 15,000,000 equity units of the Corporation, at a price of $0.05 per equity unit (the Units") and up to 4,000,000 additional Units by way of an overallotment option exercisable by the Corporation at any time prior to closing of the Offering. The Offering is being expanded due to the high level of subscriber interest in the proposed financing. It is anticipated that the first closing of the Offering will occur on April 30, 2009, with subsequent closings, if any, to be held in early May at the sole discretion of the Corporation.

Each Unit is comprised of one common share (the "Common Share") and one common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.10 for a period of one year after closing of the Offering. Subject to regulatory approval, the Corporation intends to retain one or more agents in connection with the Offering and to pay to such agents a sales commission or finder's fee of up to 10% of the gross proceeds raised under the Offering. The net proceeds from the Offering will be used to continue the implementation of the Company's business plan of consolidating junior resource operations and for general corporate purposes.

Certain statements contained herein may constitute forward-looking statements. These statements relate to future events or our future performance. All statements other than statements of historical fact may be forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe that the expectations reflected in the forward-looking statements are reasonable based upon management's current views, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. No assurance can be given that actual results, performance or achievement expressed in, or implied by these forward-looking statements will occur, or if they do, that any benefits may be derived from them. Past results have been applied in drawing a conclusion or making a forecast or projection set out in the forward-looking information.

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.

Contact Information

  • Atikwa Minerals Corporation
    Sean Kehoe
    Chief Executive Officer
    (403) 233-6073