Atlantic Industrial Minerals Inc.

December 21, 2011 14:00 ET

Atlantic Industrial Minerals: Private Placement Closed

HALIFAX, NOVA SCOTIA--(Marketwire - Dec. 21, 2011) - Colin J. MacDonald, President and CEO of Atlantic Industrial Minerals Incorporated. ("AIM") (TSX VENTURE:ANL.H) announces:

Private Placement Closed

The $135,000 non-brokered private placement announced September 2, 2011 has closed with 666,666 common shares at a price of $0.075 per share totalling $50,000 and 850,000 'flow through' common shares at a price of $0.10 per share totalling $85,000 being issued. The private placement proceeds will be used for required assessment work on AIM's Glencoe property, payment of the non-refundable deposit on the Glencoe-Kewstoke acquisitions, and for general corporate purposes including reduction of accounts payable. The directors of the company participated in the placement. The shares are subject to a hold period until April 16, 2012.

On behalf of the Board

Colin MacDonald, President & CEO

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

Neither the NEX 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

  • Colin MacDonald
    President & CEO
    Atlantic Industrial Minerals Inc.
    (902) 832-5555
    (902) 832-2223 (FAX)