Vancouver, BC – April 17, 2014: Altair Gold Incorporated (“Altair”) (TSX-V: AVX) announces that it plans to raise up to $450,000 in a non-brokered private placement financing (the “Offering”). The Offering consists of up to 9 million units (the “Units”) at $0.05 per Unit for gross proceeds of up to $450,000. Each Unit will consist of one common share and one common share purchase warrant (the “Warrant”). Each Warrant included in the Units will entitle the holder to purchase one additional Altair common share for $0.10 per share. All of the Warrants are exercisable for a period of five years from the closing date, subject to the right of the Company to accelerate the expiry of the Warrants, if, during the term of the Warrants, the common shares of the Company close at a price at or above $0.20 per share for more than 20 consecutive trading days. Finder’s fees may be payable on all, or part, of the Offering.
The net proceeds of the Offering will be used by Altair to fund obligations related to the Kena Property, located in southern British Columbia under Altair’s option agreement with Sultan Minerals Ltd., and for general working capital purposes.
The Offering is subject to acceptance by the TSX Venture Exchange.
For further information please contact Fayyaz Alimohamed at 604 999 4456, or e-mail at [email protected]
Altair Ventures Incorporated
Per: “Fayyaz Alimohamed”
Fayyaz Alimohamed, President & CEO
Forward-Looking Statement Caution
This news release contains certain “forward-looking statements”, within the meaning of Canadian securities legislation, relating to the proposed Offering and the proposed use of proceeds. Although Altair believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical fact. They are based on the beliefs, estimates and opinions of Altair’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Altair disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as required by applicable law and stock exchange policies. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include: Altair’s inability to secure subscriptions from subscribers to complete the proposed Offering in whole or in part, a management decision to change the use of proceeds based on changing circumstances, Altair’s inability to obtain the TSX Venture Exchange approval required to complete the Offering, Altair might encounter problems such as the significant depreciation of metals prices, accidents and other risks associated with mining exploration, the risk that Altair will encounter unanticipated geological factors, the possibility that Altair may not be able to secure permitting and other governmental clearances necessary to carry out Altair’s exploration plans, and the other risk factors discussed in greater detail in Altair’s various filings on SEDAR (www.sedar.com) with Canadian securities regulators.
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 adequacy or accuracy of this release.
THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. THE SECURITIES TO BE ISSUED UNDER THE OFFERING HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 (AS AMENDED) OR ANY STATE SECURITIES LAWS, AND UNLESS SO REGISTERED MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE UNITED STATES SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.