Atlantic applies to delist from ASX

21st August 2014 By: Esmarie Iannucci - Creamer Media Senior Deputy Editor: Australasia

Atlantic applies to delist from ASX

Photo by: Bloomberg

PERTH (miningweekly.com) – Junior Atlantic Gold on Thursday said that it would apply to the ASX to have its official listing removed, following the merger with TSX-listed Atlantic Gold Corporation, which was formally known as Spur Ventures.

Under the merger agreement, the then Spur acquired all the ordinary shares of Atlantic. Atlantic shareholders received 0.05564 of a common share in Spur and 0.02782 of a share purchase warrant in Spur for each Atlantic share held.

Each of the share purchase warrants could be exercisable for a period of four years from the closing date of the transaction, at an exercise price of C$0.60 each until August 20.

The newly named Atlantic Gold Corporation said on Thursday that it had issued more than 46.27-million common shares and more than 23.13-million share purchase warrants under the scheme.

Out of the more than 46-million shares issued, some 42.5-million CHESS depository interests would be listed on the ASX, and a further 3.7-million would be listed on the TSX. Of the more than 23-million warrants issued, some 21.2-million would be listed on the ASX, with the remainder to be listed on the TSX.

Atlantic Gold Corporation was expected to start trading on the ASX on August 22.