ATW Venture announces $9.5 million private placement

ATW Venture Corp. announces a brokered private placement led by PI Financial Corp. for up to 10,000,000 units , priced at $0.95 per Unit to raise up to $9,500,000. Each Unit consists of one common share and one transferable common share purchase warrant . Each Warrant shall be exercisable into one additional common share of the Company for two years from the closing date of the Offering at an exercise price of $1.35 per common share for the first year following the Closing Date, and for $1.50 for the second year following the Closing Date.

As consideration for acting as agent, the Agent will receive a commission of 7% of the gross proceeds of the Offering on the closing of the Offering, payable in cash, in units or a combination of both, at the election of the Agent. Any units issued in lieu of cash commission will be on the same terms as the Units of the Offering. The Company shall also pay to the Agent a corporate finance fee of $50,000 and compensation options (the “Compensation Options”) equal to 8% of the number of Units issued pursuant to the Offering. Each Compensation Option will entitle the Agent to purchase, at an exercise price of $1.05, one common share of the Company for a period of two years from the date of closing.

All securities issued pursuant to this financing are subject to a 4-month hold period from the Closing Date. The Offering is subject to approval from the TSX Venture Exchange and any other regulatory approvals.

Proceeds of the private placement will be used to fund ATW’s Burnakura Gold Mine, increased exploration, potential future acquisitions and for general working capital.