Transatlantic Mining Corp. Announces Financing of CAD $10 million to purchase the US Grant Mine and further develop mining activities Madison County
Transatlantic Mining Corp. | Suite 800 | 1199 West Hastings Street | Vancouver | Canada V6E 3T5
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Transatlantic Mining Corp. Announces Financing of CAD $10 million to purchase the US Grant
Mine and further develop mining activities Madison County
Not for distribution to United States Newswire Services or for dissemination in the United States
TCO NEWS RELEASE -VANCOUVER, B.C., May 17, 2017 – Transatlantic Mining Corp. (the “Company”) (TCO:TSX.V)
announces that the Board of Directors has resolved to raise CAD$10 million to purchase and advance the US Grant mine.
Details:
50 million new units at CAD$0.20 cents
A unit comprising of one common share and one half of one common share purchase warrant. Each
whole warrant will be exercisable at CAD$0.30 cents with a two year expiry
The placement is scheduled to close on the 14 June 2017
The funds will be used as follows (CAD):-
Purchase US Grant Mine (US$1.7M) $2.3M
Develop mine access to the mineralisation $1.0M
Purchase new mining equipment $2.0M
Resource Definition Drilling $1.5M
Kearsage due diligence $0.5M
Working Capital $2.7M
Total $10M
Chief Executive Officer, Bernie Sostak intends on converting his CAD$1 million short term loan facility into equity as part of the
placement.
The closing of the Offering is expected to occur on or about June 14, 2017 and is subject to receipt of all necessary regulatory
approvals. The Units, including all underlying securities thereof, and any bro ker warrants issued with respect to the Offering will
be subject to a four month hold period in accordance with applicable Canadian securities laws. Finder’s fees or commissions may
be payable by the Company in connection with this Private Placement. The offering is subject to a number of conditions, including
receipt of all necessary corporate and regulatory approvals, including approval of the TSX -V.
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This news release does not constitute an offer of securities for sale in the United States. The securitie s being offered have not
been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be
offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. re gistration requirements.
About Transatlantic Mining Corp.
Transatlantic Mining (TSX-V: TCO) is an emerging precious and base metal explorer and developer. The Company has a focus on
operating in stable mining jurisdictions. The Company is engaged in controlling and owning mineral properties interests, such as
the 80% owned Monitor Copper-Gold project in Idaho (USA).
In January 2016, the Company entered a lease/purchase option agreement on 100% of the US Grant Gold -Silver Mine &
Mill project in Monta na (USA) ..A proven management team that seek to enhance shareholder value through expert
exploration/development and expansion of its existing assets, together with selective and future earning accretive acquisitions.
For further information please contact: Bernie Sostak +61 (0) 439 904 044
Neither the 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 adequ acy or accuracy of this release