Brionor Closes the Atala Acquisition and 1ST Tranche of Financing
291824.00007/95380580.1
PRESS RELEASE FOR IMMEDIATE RELEASE
May 9, 2017
TSX-V: BNR
BRIONOR CLOSES THE ATALA ACQUISITION
AND 1ST TRANCHE OF FINANCING
Toronto, Ontario, May 9, 2017 - Brionor Resources Inc. (“Brionor” or the “Company”) (TSX-V: BNR) is
pleased to announce the closing of (i) its acquisition of Atala Resources Corporation (“Atala”), a private
Ontario mining exploration company that holds a portfolio of exploration properties in Santa Cruz Province,
Argentina, and (ii) the first tranche of its concurrent private placement financing for minimum proceeds of
$680,000 and maximum proceeds of $1,000,000 (the “Offering”) (See Press Releases of the Company dated
March 2, 2017 and May 3, 2017 for more details on the transaction and the Offering). Brionor entered into a
Definitive Share Purchase Agreement (the “Agreement”) dated March 1, 2017 with Atala and the
shareholders of Atala (the “Atala Shareholders”); whereby Brionor proposed to acquire (the “Acquisition”) all
of the issued and outstanding shares of Atala. The value attributable to this Acquisition is approximately
$750,000 as Brionor will issue $300,000 in Brionor common shares at a deemed price of $0.05 per Brionor
Share and assume approximately $450,000 in loans made by Brionor to Atala since February 2013. Under
the Agreement, the Atala Shareholders received a total of 6,000,000 Brionor Shares.
Concurrent with the closing of the Acquisition, the Company has completed the first tranche of the Offering
consisting of 13,720,928 units (the “Units”) of Brionor for gross proceeds of $686,046. Each Unit consists of
one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder
to acquire one common share of the Company at a price of $0.075 until May 5, 2019. Finders fees in the
amount of $10,500 were paid in conjunction with the Offering.
The shares and warrants issued in conjunction with the Acquisition and the Offering are subject to a four
month hold period ending on September 6, 2017. The Acquisition and Offering remain subject to the final
approval of the TSX Venture Exchange.
About Atala Resources Corp.
Atala’s exploration property portfolio spans approximately 103,000 hectares in 7 independent areas in the
highly prospective Province of Santa Cruz, Argentina. Atala, throu gh its 100% owned subsidiary (Atala
Argentina S.A.) owns the mining rights to the El Monte, Gertrudis, Boleadora group and Katrina projects.
The El Meridano, Covadonga, and La Rosita projects are subject to an underlying option agreement with a
private Argentine vendor pursuant to which Atala shall make options payments to the vendor commencing on
January 1st of every year for the next 6 years (US$35,000 for the next 3 years, US$50,000 in the fourth year,
US$125,000 in the fifth year and US$300,000 in the last year for a total of US$580,000). The Vendor is also
entitled to a 2% NSR on these properties, which can be purchased by the Company at any time for a payment
of US$800,000.
About Brionor
Brionor is a junior mining exploration company with a portfolio of exploration projects in Québec, and a large,
very prospective exploration project portfolio in in the emerging precious metals Province of Santa Cruz,
Argentina. Currently Brionor is well funded with approximately $2.5 million in cash and marketable securities.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Brionor Resources Inc.
Lewis Lawrick, President & CEO: 647-478-5307
Email: [email protected]
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.
Cautionary Statements Regarding Forward Looking Information
Some statements in this release may contain forward- looking information. All statements, other t han of
historical fact, that address activities, events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without limitation, statements regarding potential
mineralization) are forward-looking statements. Forward-looking statements are generally identifiable by use
of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or
“project” or the negative of these words or other variations on these words or comparable terminology.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the
Company’s ability to control or predict, that may cause the actual results of the Company to differ materially
from those discussed in the forward-looking statements. Factors that could cause actual results or events to
differ materially from current expectations include, among other things, without limitation, failure by the parties
to complete the Transaction, failure to establish estimated mineral resources, the possibility that future
exploration results will not be consistent with the Company's expectations, changes in world gold markets or
markets for other commodities, and other risks disclosed in the Company’s public disclosure record on file with
the relevant securities regulatory authorities. Any forward- looking statement speaks only as of the date on
which it is made and except as may be required by applicable securities laws, the Company disclaims any
intent or obligation to update any forward-looking statement.