Altair Resources Announces Further Closing of Private Placement
Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
Altair Resources Announces Further Closing of Private Placement
Vancouver, British Columbia – August 30th, 2021: ALTAIR RESOURCES INC. (“ALTAIR” or the Company”)
(TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W2004; WKN: WKN A2ALMP) - Mr. George S. Young,
Chairman & CEO, is pleased to announce a further closing of the Company’s non -brokered private
placement financing (the “Private Placement”) announced on July 12th as amended July 13th. In this closing
Altair has issued an additional 2,059,090 units (each, a “Unit”) of the Company, at a price of CDN$0.11 per
Unit, with each Unit comprising one common share (a “ Share”) and one share purchase warrant (a
“Warrant”). Each Warrant entitles the holder to purchase an additional common share at a price of
CDN$0.18 for a period of one year from the closing.
In aggregate, considering the closing announced July 30th, the Company has now issued 17,131,071 Units
for gross proceeds of $1,884,418 , the proceeds are being used to fund costs related to the acquisition of
two gold properties in Kazakhstan including the exclusivity payment of US$1 million, transaction costs
including due diligence, filing fees, legal fees and technical report fees and for general working capital. All
securities issued are subject to a hold period expiring four months plus a day from the date of closing. No
finder’s fees were paid.
The Company continues to work on this placement and additional closings for this financing are expected.
About Altair Resources Inc.
Altair is a gold and precious metal exploration company. Altair recently announced the signing of a binding
agreement for the purchase of the Marbera 2 permits in Burkina Faso, hosting historic resources of o ver
1.3 million ounces of gold as shown by over 387,000 metres of drilling and 294,000 samples.
The Company also recently announced an agreement for the acquisition of two gold-producing properties
in Kazakhstan containing a total historic indicated resou rce of 947,900 ounces of gold, open pit and
underground, and a total historic inferred resource of 892,600 oz of gold, open pit and underground, with
current aggregate gold production at the two properties of approximately 21,000 ounces of gold per year
from the oxide zones of each property. The in -situ acquisition cost of these gold -producing assets is $58
per ounce.
Altair also has rights to acquire a 65-per-cent interest in the Simon gold and silver property located in the
state of Nevada. A past producer, the Simon property presents an excellent opportunity for adding value,
employing low-cost exploration activities to identify prime drilling sites in six anomalous zones previously
identified with gold, silver and copper mineralization. The Simon property lies within the region that hosts
the prolific Tonopah district, the Round Mountain gold mine and numerous other successful mining
projects.
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Altair Resources Inc.
#1305 – 1090 W. Georgia Street, Vancouver, BC V6E 3V7 Canada
For further information:
George S. Young
Chairman, CEO, Altair Resources Inc.
+1 (806) 886- 3317
[email protected], www.altairresources.com
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.
Forward-Looking Statements:
This press rele ase contains forward -looking statements with respect to the Company. By their nature,
forward-looking statements are subject to a variety of factors that could cause actual results to differ
materially from the results suggested by the forward-looking statements. In addition, the forward-looking
statements require management to make assumptions and are subject to inherent risks and uncertainties.
There is significant risk that the forward -looking statements will not prove to be accurate, that the
management’s assumptions may not be correct and that actual results may differ materially from such
forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking
statements.
Generally forward-looking statements can be id entified by the use of terminology such as “anticipate”,
“will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar
expressions. Forward-looking statements contained in this press release may include, but are not limited
to, the completion of the private placement and the Company receiving regulatory approval to the partial
revocation order. These forward -looking statements are based on a number of assumptions which may
prove to be incorrect including, but not limi ted to, the Company receiving regulatory approval to the
private placement and the partial revocation order application.
The forward-looking statements contained in this press release are made as of the date hereof or the dates
specifically referenced in this press release, where applicable. Except as required by law, the Company does
not undertake any obligation to update publicly or to revise any forward -looking statements that are
contained or incorporated in this press release. All forward -looking s tatements contained in this press
release are expressly qualified by this cautionary statement