06:48:47 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Atco Mining Inc
Symbol ATCM
Shares Issued 26,812,025
Close 2023-02-01 C$ 0.23
Market Cap C$ 6,166,766
Recent Sedar Documents

Atco Mining appoints Stevens as adviser

2023-02-02 11:15 ET - News Release

Mr. Jeffrey Stevens reports

ATCO MINING APPOINTS JEFFREY STEVENS AS STRATEGIC ADVISOR

Atco Mining Inc. has appointed Jeffrey Stevens as a strategic adviser. Mr. Stevens's qualifications and skill set in corporate development and capital markets will expand Atco's reach in new markets and will help expose the company's message and mission around North America.

About Mr. Stevens

Mr. Stevens has over 20 years of capital markets experience and has been an officer and director with several public companies. He has taken many companies public, built teams, and structured multiple merger and acquisition transactions while building successful businesses. He is currently the chief executive officer and director of Psyched Wellness. Prior to this role, he was the cofounder and chief operating officer of Datametrex AI Ltd. and helped grow that company from a start-up with zero revenue to over $10-million a year and a market capitalization of over $120-million.

"I am thrilled to take on an advisory role with Atco and to support this esteemed team of mining professionals with capital markets exposure," states Mr. Stevens. "My many years of institutional sales and trading were predominantly focused on financing small and microcap mining companies so I am excited to use my experience and contacts to help the company grow."

The company is currently awaiting the initial preliminary results and interpretation of the airborne survey that was flown and completed last week. These results will help identify potential salt dome structures that are defined by gravity-low features.

Atco would also like to congratulate Rowland Howe and his team at Atlas Salt for announcing the results of their independent preliminary economic assessment (PEA) and updated mineral resource estimate on their 100-per-cent-owned Great Atlantic salt project, which came in with a pretax internal rate of return (IRR) of 22 per cent and a net present value of $909-million. Atlas further noted in its news release issued on Tuesday, Jan. 31, that it has entered into discussions regarding Great Atlantic with interested parties, including potential suitors. With an independent PEA now in hand, management expects these discussions to accelerate with the focus on possible outcomes aimed at maximizing shareholder value. Atco is currently assessing all available historical data on its Lunar North project located directly adjacent to Atlas Salt's Great Atlantic deposit to determine the best exploration plan going forward.

Atco looks forward to these discussions progressing as it will only bolster and highlight the region as one of the premier mining destinations in the world.

Stock options and restricted stock units

The company is also pleased to announce that it has granted 200,000 stock options to purchase common shares of the company to Mr. Stevens. The options vest on the date of issuance and are exercisable for a period of two years from the date of issuance at an exercise price of 25 cents per option share. The company has also granted 200,000 restricted share units (RSUs) to Mr. Stevens. The RSUs will vest and convert into common shares on June 1, 2023.

About Atco Mining Inc.

Atco is a junior exploration mining company focused on exploring for green energy metals throughout Canada. Atco is also exploring for sulphide-rich VHMS (volcanic-hosted massive sulphide) deposits in Saskatchewan as well as salt opportunities in western Newfoundland.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.