Atom Energy closes $415K private placement

Atom Energy Inc.



News Release

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

ATOM ENERGY COMPLETES PRIVATE PLACEMENT AND DEBT SETTLEMENT

Atom Energy Inc. (TSX-V: AGY.H) (“Atom” or “the Company”) announces that it has closed a non-brokered private placement for gross proceeds of $415,000 through the issuance of 8,300,000 Units at a price of $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant exercisable at a price of $0.065 for a period of 12 months following the closing of this private placement. Securities issued for this private placement are made available by way of an exemption to accredited investors (as defined in National Instrument 45-106 – Prospectus and Registration Exemptions) in Canada and to certain other qualified investors as the Company may agree.

Proceeds of the private placement will be allocated to working capital and other corporate purposes.

Debt Settlement

The Company also announces that it has entered into agreements with certain of its creditors pursuant to which it has agreed to settle debt in an aggregate amount of $51,172.75 in exchange for the issuance of an aggregate of 1,023,455 units with the same terms as the Units described above. The debt settlement will be based on a deemed price of $0.05 per unit.

TSX-V Approval and Statutory Hold Periods

Closing of the debt settlement and the private placement will be subject to TSX Venture Exchange approval.

All shares issued in connection with the private placement and debt settlement will be subject to a four month plus one day statutory hold period.

ON BEHALF OF THE BOARD OF DIRECTORS
“John Veltheer ”
John Veltheer, CEO & Director
For information, please contact the Company:
Phone: (604) 562-6915
E-mail: john@veltheer.com

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.