Atocha completes $149,397 private placement

2009-09-25 20:30 ET - News Release

Mr. Salman Jamal reports

ATOCHA CLOSES OVERSUBSCRIBED PLACEMENT

Atocha Resources Inc. has closed its oversubscribed flow-through private placement previously announced in Stockwatch on Sept. 4, 2009. The original placement consisted of one million units for total proceeds of $130,000. The completed amounts for the placement are 1,149,208 units for total gross proceeds of $149,397.

Each unit consists of one flow-through common share of the company and one non-flow-through common share warrant. Each flow-through common share will be offered at a price of 13 cents and one non-flow-through common share purchase warrant which will entitle the holder to purchase one common share at a price of 16 cents exercisable for a period of one year from the closing of the private placement. The private placement is subject to approval of the TSX Venture Exchange. Pro orders consisted of 215,000 units. Finders' fees or commissions of $8,539.70 are payable and 65,690 B warrants are issuable subject to Toronto Stock Exchange approval.

The company intends to use a portion of the proceeds from the private placement for exploration of its McGillivray property, which is located north of Lytton, B.C., in the Kamloops mining division approximately midway between Lytton and Lillooet on Highway 12. The mineral on-line claims cover 4,646 hectares (46.46 square kilometres).

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