VANCOUVER, May 29, 2018 /CNW/ - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC" or the "Company") is pleased to announce that it has closed a $4,534,020 private placement, which consisted of the sale of 7,556,700 flow-through shares at a price of $0.60 per share. The oversubscribed financing was originally announced as a $3,000,000 private placement on May 9, 2018.

The proceeds raised from the sale of the flow-through Shares will be used to fund exploration at the Company's Rackla Gold Property. Expenditures will qualify as "Canadian Exploration Expenses", as that term is defined in the Income Tax Act (Canada).

The Company paid cash finders' fees totaling $269,881.20, and issued a total of 443,201 finders' warrants, to a series of parties including PI Financial Corp. and Canaccord Genuity Corp.  Each finders' warrant entitles the holder to purchase one common share of the Company at a price of $0.60 until May 25, 2019.

All of the securities issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the finders' warrants, are subject to a hold period in Canada expiring on September 26, 2018.