Vancouver, British Columbia – October 25, 2022 – Transcend Capital Inc. (the “Company” or “Transcend Capital”) and Atco Mining Inc. (CSE:ATCM)
This news release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the “Early Warning Report”) regarding the acquisition of common shares (the “Shares”) in the capital of Atco Mining Inc. (the “Issuer”).
On October 25, 2022, the Issuer completed its initial public offering (“IPO”) of 10,000,000 common shares at a price of $0.10 per Share for total gross proceeds of $1,000,000 pursuant to the final prospectus of the Company dated September 29, 2022 and an agency agreement of the same date between PI Financial Corp. and the Issuer.
Pursuant to the IPO, Transcend Capital, a company wholly-owned by Etienne Moshevich, acquired 1,830,000 Shares. Immediately prior to the closing of the IPO, the Company had 1,600,001 Shares representing approximately 10.32% of the issued and outstanding Shares and immediately after closing of the IPO, the Company had 3,430,000 Shares, representing approximately 13.7% of the issued and outstanding Shares.
As disclosed in the Early Warning Report, Transcend Capital may in the future acquire or dispose of further securities of the Issuer, through the market, privately or otherwise, as circumstances or market conditions warrant.
A copy of the Early Warning Report filed with the applicable securities regulators regarding the above disposition is available on SEDAR (www.sedar.com).
For further information, contact:
Transcend Capital Inc.
Suite 303, 750 West Pender Street
Vancouver, British Columbia, V6C 2T7
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
Issuer Contact Information
Atco Mining Inc.
Alex Klenman, Chief Executive Officer Email:
Telephone: (604) 681-0084