TORONTO,
Sept. 7, 2012 /CNW/ - Atlanta Gold
Inc. (TSXV: ATG; OTCQX: ATLDF) announces that following receipt
of the approval of the TSX Venture Exchange, it has issued
16,335,909 common shares at a deemed price of $0.05 per share in satisfaction of approximately
$816,795 of outstanding indebtedness.
As was announced in the Company's news release of August 31, 2012, the indebtedness consisted of
trade payables and loans from shareholders and included
approximately $662,448 owed to three
insiders of the Company in respect of shareholder loans. The
shares are subject to a four month hold period expiring
January 7, 2013.
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 comprise approximately 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.
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.
SOURCE Atlanta Gold Inc.