Mr. Harold Shipes reports
ALTAIR CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
Altair Resources Inc. has completed a first tranche closing of its non-brokered private placement financing announced on April 5, 2017, by issuing a total of 10.55 million units of the company, at a price of 20 cents per unit, for gross proceeds of $2.11-million. Each unit comprised one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share of the company at a price of 26 cents per share for a period of three years from closing. The company has paid to a number of finders, including Industrial Alliance Securities, finders’ fees in cash, warrants and or common shares of the company on this first tranche closing.
All securities issued have a hold period of four months plus a day from the date of issuance. Proceeds will be used for working capital, exploration and development activities, and asset acquisitions.