Vancouver, British Columbia – October 25, 2022 – Atco Mining Inc. (CSE:ATCM) (the “Company” or “Atco“) is pleased to announce that it has completed its initial public offering pursuant to a prospectus dated September 29, 2022 (the “Offering“) in which it issued an aggregate of 10,000,000 common shares of the Company (each, a “Common Share“) at a purchase price of $0.10 per Common Share. This generated aggregate gross proceeds of $1,000,000.
PI Financial Corp. acted as agent on a commercially reasonable efforts basis in respect of the Offering and received a cash commission equal to 7% of the gross proceeds and a corporate finance fee. In addition, Atco issued 900,000 non-transferable agent’s warrants (the “Warrants“), with each Warrant exercisable for one Common Share for a price of $0.10 until October 25, 2024.
Proceeds of the Offering will be applied to finance the Company’s exploration work and for working capital purposes.
Atco is also pleased to announce that its Common Shares were listed on the Canadian Securities Exchange on October 24, 2022 and are expected to commence trading on or about October 25, 2022 under the trading symbol “ATCM”.
About Atco Mining Inc.
Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring for sulphide-rich VHMS deposits in Saskatchewan as well as salt opportunities in Western Newfoundland. Investors are encouraged to visit the company’s website here: www.atcomining.com
Atco Mining Inc.
Alex Klenman, Chief Executive Officer Email:
Telephone: (604) 681-0084
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the Canadian Securities Exchange and the intended use of proceeds from the Offering. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of
the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.