ATW Gold Corp.

ATW Gold Corp.

April 03, 2009 19:41 ET

ATW Closes Second Tranche of Financing for Proceeds of $1,333,780

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 3, 2009) - ATW Gold Corp. (TSX VENTURE:ATW) ("ATW" or "the Company") is pleased to announce that it has closed the second tranche of the Company's financing (the "Private Placement") of up to 7,951,290 units (the "Units") priced at $0.62 per Unit to raise up to $4,929,780. The private placement has been over subscribed and was originally announced on March 27, 2009 as being for 7,258,064 Units.

The total proceeds raised by the Company were $4,929,780. The Private Placement was closed in two tranches, with the first tranche of 5,800,000 Units for proceeds of $3,596,000 closed on March 31, 2009 (the "First Closing Date") and the second tranche of 2,151,290 units closed today, April 3, 2009 (the "Second Closing Date") for gross proceeds of $1,333,780.

Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant (the "Warrants"). Each whole Warrant will be exercisable into one additional common share of the Company for one year at an exercise price of $0.80 per common share.

Finder's Fees were paid on the gross proceeds of the Private Placement equal to $319,902.98 in cash.

The Shares comprising part of the Units and the Shares underlying the Warrants are all subject to a hold period expiring four months from the First Closing Date and the Second Closing Date (depending on which tranche they were issued pursuant to).

The Private Placement is subject to its final acceptance for filing with the TSX-Venture Exchange.


Graham Harris, Chairman & Director

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

"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."

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