Atomic Minerals Announces Consolidation and Financing
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For Immediate Release
PRESS RELEASE
October 11th, 2023
Symbol: TSX-V: ATOM
Atomic Minerals Announces Consolidation and Financing
Vancouver, British Columbia, October 11, 2023 – Atomic Minerals Corporation ("ATOMIC
MINERALS" or the "Company") (TSX Venture: ATOM) announces that the Board of Directors of
the Company has recommended consolidation of the Company's issued and outstanding common shares
(the "Common Shares") on the basis of five (5) pre-consolidated Common Shares for one (1) new post
consolidated Common Share (the "Consolidation") and a subsequent financing as the Company believes
the proposed Consolidation will position the Company with increased flexibility to seek additional
capital given the current market conditions.
As of the date of this news release, the Company has 68,274,598 Common Shares issued and
outstanding. After completing of the Consolidation, the Company is expected to have approximately
13,654,920 Common Shares issued and outstanding without par value as may be approved by the board
of directors and accepted by the TSX Venture Exchange ("TSXV"). The Company's name and stock
symbol will remain the same after the Consolidation, although the Company's CUSIP and ISIN numbers
will change. No fractional Shares will be issued as a result of the Consolidation. Instead, any fractional
share interest of 0.5 or higher arising from the Consolidation will be rounded up to one whole Share,
and any fractional share interest of less than 0.5 will be cancelled.
This restructuring and proposed subsequent financing will provide the necessary capital to enable the
Company to focus on permitting its Dolores Anticline Property (the "Dolores") for drilling. Dolores lies
on the northern end of the Dolores Anticline, in San Miguel County, Colorado, at the southern end of
the Uravan Mineral Belt ("Uravan"). Historic oil and gas, and uranium drilling on the nose and the flank
of the Dolores anticline returned anomalous gamma ray spikes in the basal section of the Triassic Age
Chinle Formation, indicating the potential presence of uranium mineralization. The past producing Bull
Snake Mine further confirms the uranium potential of the Dolores anticline. The favorable sandstone
unit within the Chinle, the Moss Back Member, clearly outcrops in the canyon of the Dolores River.
The Company will simultaneously commence the permitting process at the 10 Mile Property, where
historic oil and gas drilling has also returned anomalous gamma ray spikes in the basal section of the
Triassic Age Chinle Formation, again indicating the potential presence of uranium mineralization. Our
Harts Point Project is currently joint ventured with Kraken Energy Corp. The uranium mineralization at
all three of our U.S. properties was discovered through the study of drilling data previously generated
by the oil and gas industry while exploring for future reserves. The Company has a further oil and gas
database of over 1,300 drill holes. This financing will further contribute to the exploration of these holes
for the presence of uranium mineralization.
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The Company will issue a further news release notifying shareholders as to when the effective date of
the Consolidation will occur and the date on which the Company's Common Shares will commence
trading on the TSXV on a consolidated basis with new ISIN and Cusip numbers.
The Company will also proceed with a proposed Private Placement (the "Offering") with the sale of
units (the "Units") at a price to be determined on a post-consolidated basis. The closing of the Offering
is subject to receipt of all necessary regulatory approvals including the TSXV. Finder's fees may be
payable in accordance with the policies of the TSXV.
Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the
Company, the Consolidation was approved by way of resolutions passed by the board of directors of the
Company but remains subject to the approval of the TSXV.
Clive Massey, CEO of Atomic Minerals Corporation, stated, "Atomic Minerals is actively assessing our
portfolio of projects and potential acquisitions. Over the past year, we have dedicated significant effort
to advancing our projects for the benefit of our valued shareholders. We hold a firm belief that the
consolidation of Atomic Minerals shares will enhance our flexibility in negotiating favorable terms for
potential acquisitions and the required funding for future endeavors. It's important to note that any
consideration of share consolidation would only occur if it proved advantageous as part of a potentially
beneficial transaction for our shareholders."
Qualified Person
Mr. R. Tim Henneberry, P.Geo. (BC), an advisor to the Company, is the "Qualified Person" under
National Instrument 43-101 Standards of Disclosure for Mineral Projects ( "NI 43-101") and is
responsible for the technical contents of this news release and has approved the disclosure of the
technical information contained herein.
About the Company
Atomic Minerals Corp. is a publicly listed exploration company on the TSX Venture Exchange, trading
under the symbol ATOM. Led by a highly skilled management and technical team with a proven track
record in the junior mining sector. Our objective at Atomic Minerals is to identify exploration
opportunities in regions that have been previously overlooked but are geologically similar to those with
previous uranium discoveries. These underexplored areas hold immense potential and are in stable
geopolitical and economic environments.
Currently, our property portfolio contains Uranium projects with significant technical merit in two
locations known for hosting Uranium production in the past. we have three on the Colorado Plateau,
within the continental United States. The plateau has previously produced 597 million pounds of U3O8
The other three are in the prolific Athabasca region in Saskatchewan, Canada.
For additional information, please visit the Company's website at www.atomicminerals.ca
ON BEHALF OF THE BOARD OF DIRECTORS
“Clive Massey”
Clive H. Massey
President & CEO
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For further information, please contact:
Dave Langlais
(778) 316-5105
Neither TSX Venture Exchange nor their 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.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "forward -looking" statements. Forward
looking statements are statements that are not historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although
Atomic Minerals Corporation believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future performance and actual results may
differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs,
estimates and opinions of Atomic Minerals Corporation management on the date the statements are made.
Except as required by law, Atomic Minerals Corporation undertakes no obligation to update these forward-
looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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