private placement at 6c

What the???

That's a big vote of confidence to take a placement at a 20% premium to current SP!

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Atlantic Gold NL (ASX: ATV) is pleased to announce that it has entered into a placement agreement for the issue of 40 million ordinary shares to a private company, AU Mining Limited, at 6 cents per share to raise $2.4 million. This
equates to approximately 8.92% of the issued capital of the Company.
Completion of the placement is expected to occur during this week.
Atlantic Gold welcomes AU Mining Limited as a substantial shareholder in the company and looks forward to a rewarding association with AU Mining and its other shareholders in progressing its gold exploration and development activities in Nova Scotia.

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