Atikwa Minerals Corporation

Atikwa Minerals Corporation

May 01, 2009 15:42 ET

Atikwa Minerals Corporation Announces Initial Closing of Financing

CALGARY, ALBERTA--(Marketwire - May 1, 2009) - Atikwa Minerals Corporation (TSX VENTURE:ATK) ("Atikwa" or the "Company") is pleased to announce that the first closing of its previously announced non-brokered equity financing was completed on April 30, 2009. The aggregate gross proceeds raised in the first closing were $537,500. A total of 10,750,000 units of the Company were sold 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 until April 30, 2010. 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, 2009. 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 first closing of this financing, Atikwa has 53,240,345 common shares issued and outstanding.

The Company anticipates that the second and final closing in respect of the Company's equity financing will take place within the next two to three weeks.

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