Atikwa Minerals Corporation

Atikwa Minerals Corporation

May 14, 2009 16:22 ET

Atikwa Minerals Corporation Announces Final Closing of Financing

CALGARY, ALBERTA--(Marketwire - May 14, 2009) - Atikwa Minerals Corporation (TSX VENTURE:ATK) ("Atikwa" or the "Company") is pleased to announce that the final closing of its previously announced non-brokered equity financing was completed on May 13, 2009. The aggregate gross proceeds raised in the initial and final closings were $950,000. A total of 19,000,000 units of the Company were sold in the two closings (10,750,000 units in the initial closing on April 30, 2009 and 8,250,000 units in the final closing) at a price of $0.05 per unit, each unit consisting of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at $0.10 for one year after closing. In connection with the financing, the Company agreed to pay sales commissions or finder's fees equal to 10%, in aggregate, of the gross proceeds.

All securities issued pursuant to this financing will be subject to a four month hold period, which will expire on September 1 and September 13, 2009, respectively. The net proceeds from this financing will be used to continue implementing the Company's business plan of consolidating junior resource company operations and for general corporate purposes. Immediately following the final closing of this financing, Atikwa has 61,490,345 common shares issued and outstanding.

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