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Atlantic Gold to raise C$25M working capital

Atlantic GoldCorp. on April 28 announced that it is planning an underwrittenbought deal private placement financing for C$12.5 million and a non-brokeredplacement for the same amount, with the funds to be used for working capitalpurposes.

The placements will each see the issue of 20,833,400 commoncompany shares priced at 60 cents apiece.

Both elements of the fundraising will allow for an overallotmentof 3,125,010 common shares at the offer price from Atlantic Gold's treasury.

The placements are scheduled to close around May 18.

In March, Atlantic flagged a with existingshareholders which completed the funding requirements for the initial capitalcosts of approximately C$127 million for its Moose River Consolidated project in NovaScotia.