pcNewsWire – Altair Resources Inc. (TSX-V: AVX; FSE: 90A; WKN: A2ALMP) has completed the final tranche of its non-brokered private placement, issuing 6,950,000 units at $0.20 per unit for gross proceeds of $1,390,000. In aggregate, the company issued 17,500,000 units for gross proceeds of $3,500,000.
Proceeds will be used for working capital, exploration and development activities and asset acquisitions.
ALTAIR ANNOUNCES CLOSING OF $3.5 MILLION FINANCING
VANCOUVER, BRITISH COLUMBIA – MAY 26, 2017: ALTAIR RESOURCES INC. (“Altair” or the “Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. Harold (Roy) Shipes, President and CEO, is pleased to announce that further to the Company’s news releases dated April 5, 2017 and April 11, 2017, the Company has completed the final tranche of its non-brokered private placement financing by issuing 6,950,000 units (the “Units”) of the Company, at a price of $0.20 per Unit, for gross proceeds of $1,390,000. In aggregate, the Company issued 17,500,000 Units for gross proceeds of $3,500,000. Each Unit comprised one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of $0.26 per share for a period of three years from closing. The Company has paid to a number of finders, including Industrial Alliance Securities, finders’ fees totaling $180,180 in cash, 900,900 finder’s fee warrants and 280,000 common shares of the Company. The finder’s fee warrants are non-transferable and have the same terms as the private placement warrants.
All securities issued have a hold period of four months plus a day from the date of issuance. Proceeds will be used for working capital, exploration and development activities and asset acquisitions.
To learn more about Altair, please visit http://altairresources.com.
ON BEHALF OF THE BOARD,
Harold Shipes, President & CEO
Neither 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.
SOURCE: Altair Resources Inc.