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Re: News Releases - Wednesday, December 09, 2009
Atna Announces Closing of Gold Participating Bond Offering
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Golden, CO -- Atna Resources Ltd. ("Atna") -- (TSX:ATN) is pleased to
announce that, further to its news release dated November 23, 2009, it
has closed a private placement offering (the ("Offering") of US$14.5
million of Gold Participating Bonds ("Bonds"). The Offering was
arranged by Canaccord Adams Limited and CAT Brokerage AG. Canaccord
Adams Limited also acted as placing agent in connection with the
Offering.
The Bonds, which will mature on December 31, 2013, will bear interest
at a rate of 10 percent per annum on the declining balance. The Bonds
will be redeemed in sixteen equal quarterly installments equivalent to
the market value of approximately 814 ounces of gold per quarter based
on a closing gold price prior to the end of each quarter. The quarterly
payments will be converted to participating interests in a gold
exchange-traded fund approximately equivalent to the value of ounces
delivered.
It is anticipated that the amount of gold committed over the term of
the Bonds will represent less than 10 percent of the average annual
forecast gold production of Atna's wholly-owned Briggs Mine in
California. Atna intends to use the proceeds of the Offering to
initiate construction and development of its Reward Gold Mine in Nevada
and for general corporate purposes.
"We are very pleased to close this transaction and obtain timely
development funding for Atna. This non-dilutive financing structure
represents a very manageable call on the growing gold production at our
Briggs Mine. This financing will allow Atna to initiate construction of
the Reward Gold Project," states James Hesketh, President and CEO.
For additional information on Atna, please visit our website at
www.atna.com.
This news release contains certain "forward-looking statements," as
defined in the United States Private Securities Litigation Reform Act
of 1995, and within the meaning of Canadian securities legislation,
relating to the sale of gold participating bonds and the proposed use
of proceeds. Such statements include, without limitation, statements
regarding the amount of gold to be committed under the Bonds and the
proposed use of proceeds. Although Atna 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 Atna'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. Atna 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. Factors that could cause future results to
differ materially from those anticipated in these forward-looking
statements include: management's decision to change the use of proceeds
based on changing circumstances, Atna might encounter problems such as
the significant depreciation of metals prices, accidents and other
risks associated with mining exploration and development operations,
the risk that Atna will encounter unanticipated geological factors,
Atna's need for and ability to obtain additional financing, and the
other risk factors discussed in greater detail in Atna's various
filings on SEDAR (www.sedar.com) with Canadian securities regulators
and its filings with the U.S. Securities and Exchange Commission,
including Atna's 2008 Form 20-F dated March 31, 2009.
FOR FURTHER INFORMATION, CONTACT:
James Hesketh, President and CEO - (303) 278-8464
Valerie Kimball, Investor Relations - toll free (877) 692-8182
www.atna.com
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Copyright (c) 2009 ATNA RESOURCES LTD. (TSX:ATN) All rights reserved.
For more information visit our website at http://www.atna.com/ or send
mailto:info@atna.com
Message sent on Wed Dec 9, 2009 at 12:36:44 PM Pacific Time
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Atna Resources Ltd
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PRODUCER |
CODE : ATN.TO |
ISIN : CA04957F1018 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Atna Resources is a zinc and gold development stage company based in Canada. Atna Resources develops zinc, gold, copper, lead and silver in Canada, and holds various exploration projects in Canada. Its main asset in production is BRIGGS in USA, its main asset in development is WOLVERINE in Canada and its main exploration properties are KENDALL GOLD MINE, CONVERSE, ATLANTA (NEVADA), MOUNT EDNA, CLOVER, WOLF PROPERTY, TRAM PROSPECT, SAND CREEK JV, TREE PROPERTY, WHITE BULL, BEOWAWE, TY, UDUK, JARBRIDGE, ECSTALL PROPERTY, CONVERSE & SAND CREEK URANIUM, TRIPLE JUNCTION, GOLDTOOTH - BRIGGS, SEVEN-UP PETE GOLD, COLUMBIA PROPERTY, REWARD PROPERTY, PINSON, MT. EDNA and MCDONALD in Canada and CACHINAL and CELESTE in Chile. Atna Resources is listed in Canada and in United States of America. Its market capitalisation is CA$ 10.6 millions as of today (US$ 7.7 millions, € 7.0 millions). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 2.56, and its lowest recent point on December 29, 2015 at CA$ 0.05. Atna Resources has 212 090 000 shares outstanding. |