Vancouver-based ATAC Resources will increase the size of its previously announced private placement by about $1-million, owing to strong demand from institutions and strategic investors.
The Yukon- and Nevada-focused explorer will increase the unit portion of the placement from $1.51-million up to $2.52-million by the sale of 14.4-million units at $0.175 each. Each unit consists of one common share and one-half of a share purchase warrant.
There is no change in the amount of $504 000 to be raised by the sale of 2.4-million flow-through units at $0.21 each.
Meanwhile, ATAC also announced that Larry Donaldson had stepped down as CFO to focus on his other core engagements.
Donaldson served as ATAC's CFO since May 2011 and will continue as the CFO for a number of other junior mining companies.
Andrew Carne, currently the VP of corporate and project development, has been appointed interim CFO.