TORONTO--(BUSINESS WIRE)--Atlanta Gold Inc. (the "Company") (TSXV: ATG; OTC Pink: ATLDF) announces payments of principal and interest on the Company’s outstanding Senior Secured Notes in the aggregate amount of US$2,135,000 are past due since August 31, 2017. The Company is in discussions with its lenders and others in respect of various financing alternatives to solve the issue including, but not limited to, partial payments, partial deferral of payments and/or a purchase of the notes.
The Company will advise of the outcome of these discussions as soon as possible.
About the Company
Atlanta Gold Inc. holds through its 100% owned subsidiary, Atlanta Gold Corporation (“AGC”), leases, options or ownership interests in its Atlanta properties which comprise approximately 2,159 acres (8.74 square kilometres) 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.
The Company is also focused on advancing its exploration and processing methods on the Neal Property, which is located approximately 15 miles from Boise, Idaho and comprises approximately 192 acres (0.78 square kilometres). The Neal Property’s geology is similar to that of the Atlanta Project and it provides the Company with all-season access to further refine the processing equipment and procedures. AGC holds a five-year lease on the Neal Property and has staked an additional seven contiguous claims on public land that was open to mineral entry.
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