– CANADA, Edmonton – Athabasca Minerals Inc. (TSX: AMI) today announced a non-brokered private placement led by JMAC Resources Ltd.
Concurrent with the financing, Jon McCreary, CEO of JMAC Resources Inc, and its affiliate JMAC Resources Ltd in Canada, will be joining the Board as an Independent Director effective November 1, 2020.
“We are excited to have Mr. McCreary joining Athabasca’s Board at a pivotal stage in the Corporation’s delivery on its strategic plan. Mr. McCreary has proven industry experience in successfully building JMAC Resources Inc. in the United States into a strong company with many synergies and overlapping interests relevant to AMI’s business model. We look forward to his role on the Board as we continue to expand and grow AMI’s business interests in the North American marketplace.” said CEO, Robert Beekhuizen.
Mark Smith, CFO, said: “We are very pleased with the results of the Private Placement initiative. The strong support and response to achieve $1.48 million financing at a 30% premium to the previous day market closing price for AMI stock recognize the merits of the Corporation’s strategic initiatives. With this capital investment, Athabasca is well-positioned to advance the FEED toward FID for the Duvernay Project with a solid balance sheet.”
About Athabasca Minerals
Athabasca is an integrated group of companies focused on the aggregates, industrial minerals, and resource sectors, including exploration and development; aggregates marketing, and midstream supply-logistics solutions. Business activities include aggregate production, sales and royalties from corporate-owned pits, management services of third-party pits, acquisitions of sand and gravel operations, integrated supply/delivery solutions of industrial minerals, and new venture development. The Corporation is strategically focused on growing its three core business units: the AMI Aggregates division, the AMI RockChain division, and the AMI Silica division. Management is continually pursuing opportunities for sustained growth and diversification in supplying aggregate products and industrial minerals.
For more information: https://www.athabascaminerals.com/
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