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First Atlas Resources Raises $2.1 Million in a Private Placement of Share Units

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First Atlas Resources (HHE.CN) on Monday said it closed a bought-deal private placement of share units that raised $2.1 million.

The company placed 30.3-million units, including the partial exercise of the over-allotment option, priced at $0.07 and of a share and a three-year warrant to buy a share for $0.09.

common share purchase warrant. Each warrant shall entitle the holder to buy a share for $0.09 until June 8, 2029.

Proceeds will be used for general working capital needs.

Shares of the company were last seen down $0.0025 to $0.0475 on the Canadian Securities Exchange.

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