Altan Rio Announces Private Placement
September 12 2012 - 9:00AM
PR Newswire (Canada)
TSX.V: AMO VANCOUVER, Sept. 12, 2012 /CNW/ - Altan Rio Minerals
Limited, ("Altan Rio" or the "Company") announces a private
placement financing of up to 4,000,000 common share units at a
price of CA$0.25 per unit for gross proceeds of up to CA$1,000,000.
Each unit will consist of one common share and one-half of one
common share purchase warrant. Each whole warrant will entitle the
holder to acquire one common share of Altan Rio for a period of two
years from the closing date at a price of CA$0.50 per share. The
warrants are issued subject to an accelerated exercise clause that
can be triggered at Altan Rio's option if the closing price of the
Company's common shares on the TSX.V is CA$1.10 or higher for 30
consecutive trading days. All securities issued under the offering
will be subject to a four-month hold period. The financing is
subject to regulatory approval. Finder's fees may be payable on a
portion of the financing. The proceeds of the offering will be used
for targeted drilling at the Company's Chandman-Yol project, other
exploration in Mongolia, and general working capital. About Altan
Rio Altan Rio, founded in 2007, is based in Vancouver BC, Canada.
Using innovative exploration targeting techniques and leveraging
long-term in-country experience, the company explores large-scale
gold and copper projects in Mongolia, one of the world's most
prospective mineral regions. The Company's license holdings in
Mongolia, which total more than 153,310 hectares (378,873 acres),
contain significant zones of newly identified primary gold and
copper mineralization across a very large area of unexplored
ground. On behalf of Altan Rio Minerals Limited, "Evan Jones" Evan
Jones, President & CEO ------------------------------ This
press release may contain forward looking statements including
those describing Altan Rio's future plans and the expectations of
management that a stated result or condition will occur. Any
statement addressing future events or conditions necessarily
involves inherent risk and uncertainty. Actual results can differ
materially from those anticipated by management at the time of
writing due to many factors, the majority of which are beyond the
control of Altan Rio and its management. 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. Altan
Rio Minerals Limited CONTACT: Kelly Earle, Corporate Communications
ManagerAltan Rio Minerals LimitedTel: +1 604 639 5899 ext.
220Email: info@altanrio.comWeb: www.altanrio.com
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