Atlantic Gold to raise $2.6 million via placement

THE BOURSE WHISPERER: Atlantic Gold (ASX: ATV) has entered into a placement agreement to issue 74 million fully paid ordinary shares to a private investment company, Rosemoor Development Pte Ltd, at 3.5 cents per share to raise $2.6 million.

The placement and the payment of the application moneys are to be concluded by 7 March 2013.

The placement will result in Rosemoor holding an approximate 9.8 per cent voting interest in Atlantic Gold.

“Atlantic Gold welcomes the support of Rosemoor Development as a substantial shareholder in the company,” Atlantic Gold said in its ASX announcement.

“We look forward to a rewarding association with Rosemoor Development and our other shareholders as we develop the Touquoy and Cochrane Hill gold projects, and other gold development and exploration activities, in Nova Scotia,”