Atlantic Gold Corporation

Atlantic Gold Corporation

July 08, 2015 17:37 ET

Atlantic Gold Issues Final Tranche of Shares in Respect of the Acquisition of Acadian Mining

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 8, 2015) - Atlantic Gold Corporation (TSX VENTURE:AGB) ("Atlantic" or the "Company") is pleased to announce that the Company has issued 1,932,446 common shares pursuant to the terms of the share purchase agreement (the "Agreement") among Atlantic, Acadian Mining Corporation ("Acadian"), LionGold Mining Canada Inc. (the "Vendor"), and LionGold Corp Ltd as guarantor in relation to Atlantic's acquisition of all of the issued share capital in Acadian as previously announced by Atlantic on September 2, 2014 and September 22, 2014.

Under the terms of the Agreement, a total of 2,000,000 common shares of Atlantic were held back from issuance to the Vendor on the closing of the acquisition pending the completion of certain post-closing deliverables, including financial due diligence procedures of certain financial statement balances of Acadian as at the closing date of the acquisition. The completion of such due diligence procedures resulted in a small reduction of the number of common shares to be issued to the Vendor. All post-closing deliverables in relation to the acquisition of Acadian have now been satisfied.

On behalf of the Board of Directors,

Steven Dean

Chairman and Chief Executive Officer

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

  • Atlantic Gold Corporation
    John Morgan
    President and COO
    +1 604 689-5564

    Atlantic Gold Corporation
    Wally Bucknell
    +61 2 9410 0993