HALIFAX, NOVA SCOTIA — (Marketwire) — 09/02/11 — Colin J. MacDonald, President and CEO of Atlantic Industrial Minerals Incorporated. („AIM“) (TSX VENTURE: ANL) announces the company will proceed with a private placement of up to C$125,000.
Private Placement
AIM will proceed with a private placement of up to C$125,000. The non-brokered private placement will be comprised of up to 666,666 common shares at a price of $0.075 per share totalling $50,000 and up to 750,000 -flow through- common shares at a price of $0.10 per share totalling $75,000. The proceeds from the placement will be used for required assessment work on the company-s Glencoe property, payment of the non-refundable deposit on the Glencoe-Kewstoke acquisitions, and for general corporate purposes including reduction of accounts payable. The placement is subject to regulatory approval. The directors of the company will participate in this placement.
On behalf of the Board
Colin MacDonald
President & CEO
This press release includes certain statements that may be deemed „forward-looking statements“. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Neither the NEX 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.
Contacts: Atlantic Industrial Minerals Inc. (902) 832-5555 (902) 832-2223 (FAX)
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