Atlanta Gold Inc. (ATLDF: OTC Link) | Atlanta Gold Announces Shares for Debt Agreements

Atlanta Gold Announces Shares for Debt Agreements

Sep 01, 2012

OTC Disclosure News Service

Toronto, ONT, Canada –

NEWS RELEASE

August 31, 2012

Atlanta Gold AnnouncesShares for Debt Agreements

 

Toronto, Ontario– Atlanta Gold Inc. (TSXV: ATG; OTCQX:ATLDF) announces that it has entered into agreements to satisfy outstanding indebtedness of approximately $816,720 by the issuance of 16,335,909 commonshares at a deemed price of $0.05 per share. The indebtedness consists of trade payables and loans from shareholders and includes approximately $662,448 owed to three insiders of the Company in respect of shareholder loans.

The issuance of the shares is subject to the approval of the TSX Venture Exchange.

About the Company

Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation,leases, options or ownership interests in its Atlanta properties which compriseapproximately 2,159 acres (8.74 square kilometers) located 90 air kilometers east of Boise, in Elmore County, Idaho. A long history of mining makes Atlanta very suitable for development of new mining projects.  The Company is focused on advancing its core asset, Atlanta, towards mine development and production.

Forward-Looking Information

This news release contains forward-looking information and forward-looking statements (collectively “forward-looking statements”) within the meaning ofapplicable securities laws with respect to the issuance of the shares. This statement is based upon the assumption that the Company will receive TSX Venture Exchange approval for the issuance of the shares, and is made as of the date hereof.  The Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

For further informationcontact:

 

 

NEITHER THE TSX VENTURE EXCHANGE 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.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/ATLDF/news?id=51972

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