Atico Mining Announces Closing of the Fully Subscribed $3.2M LIFE Offering, Raising $6.5M Combined with the Rights Offering
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VANCOUVER, British Columbia, July 28, 2025 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the "Company" or "Atico") ((TSX.V: ATY, OTC:ATCMF) is pleased to announce the closing of its offering under the listed issuer financing exemption (the "LIFE Offering"), previously disclosed in the Company's press releases dated June 9, 2025, June 13, 2025 and July 22, 2025. Under the LIFE Offering, Atico sold 29,090,910 units of the Company (the "LIFE Units"), at a subscription price of $0.11 per LIFE Unit, for gross proceeds of $3,200,000. Under the LIFE Offering and the Company's rights offering that closed on July 22, 2025 (the "Rights Offering", and together with the LIFE Offering, the "Offerings"), the Company raised aggregate gross proceeds of $6,487,572.42.
"We are thrilled with the successful completion of our Rights and LIFE Offerings, which have significantly strengthened our financial foundation. This achievement positions us to advance our strategic goals at both El Roble mine and the La Plata project." said Fernando E. Ganoza, CEO. "I extend my gratitude to our loyal shareholders, new investors, and company insiders for their substantial support and trust in our vision. Together, we are poised to steer back the company toward becoming a top mid-tier producer."
Each LIFE Unit consisted of one common share of the Company (a "Common Share") and one transferable Common Share purchase warrant (a "LIFE Warrant"), with each LIFE Warrant exercisable into one Common Share (a "LIFE Warrant Share") at a price of $0.18 per LIFE Warrant Share for a period of two years from the issue date.
In connection with the LIFE Offering, PowerOne Capital Markets Limited (the "Finder") acted as finder in connection with a portion of the LIFE Offering. The Company paid a cash finder's fee of approximately $62,820 and issued 571,091 non-transferable Common Share purchase warrants (the "Finder Warrants") to the Finder, an arm's length party to the Company. Each Finder Warrant is exercisable for one Common Share at an exercise price of $0.18 for a period of two years following the closing date of the LIFE Offering.
The LIFE Units were issued pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions. Certain LIFE Units were also issued in the United States pursuant to exemptions from the registration requirements in Regulation D of the U.S. Securities Act of 1933, as amended.
The Company intends to use the net proceeds from the Offerings to pay for development of the Company's La Plata project in Ecuador (the "La Plata Project"), additional drilling at the Company's El Roble mine in Colombia (the "El Roble Mine"), and for general corporate purposes.
Following closing of the LIFE Offering, the Company has a total of 180,264,117 Common Shares outstanding.
Certain officers of the Company, considered "related parties" under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transaction ("MI 61-101"), acquired an aggregate of 590,001 LIFE Units under the LIFE Offering. Accordingly, the LIFE Offering constituted a related party transaction under MI 61-101. The LIFE Offering is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant ...
