Altair Closes First Tranche Of Non-Brokered Private Placement

Altair Resources

VANCOUVER, BRITISH COLUMBIA – December 21, 2016: ALTAIR RESOURCES INC. (“Altair” or the “Company”) (TSX-V: AVX; Germany FRA: 90A; ISIN: CA02137W1014; WKN: WKN A2ALMP) Mr. John Huguet, CEO, announces that further to the Company’s news release dated September 21, 2016, as amended November 24, 2016, the Company has completed a first tranche closing of its non-brokered private placement financing by issuing 2,500,000 units of the Company (the “Units”), at a price of $0.20 per Unit, to raise gross proceeds of $500,000. Each Unit comprised one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase an additional common share of the Company at a price of $0.25 per share for a period of three years from closing. Proceeds will be used for working capital. The Company also paid finders’ fees of 250,000 common shares of the Company. All securities issued will be subject to a hold period of four months plus a day from the date of closing. The Company is proceeding to close the remaining balance of the private placement.