Atlas Mining Company Finds Investor.Business Editors OSBURN, Idaho--(BUSINESS WIRE)--June 7, 2001 Atlas Atlas, in Greek mythology Atlas (ăt`ləs), in Greek mythology, a Titan; son of Iapetus and Clymene and the brother of Prometheus. Mining Company (Pink Sheets:ALSM ALSM Airborne Laser Swath Mapping (land survey) ALSM Aqualogic SOA Management ALSM Acquisition Logistic Support Manager ALSM Associate, London School of Music ) announced today that it has agreed to sell shares that will amount to $2.0 million in additional capital for the company. Atlas has entered into an agreement to sell restricted shares of common stock to Summa sum·ma n. pl. sum·mas or sum·mae A comprehensive treatise, especially in philosophy or theology. [Medieval Latin, from Latin, the whole; see sum1.] Metals Corporation, a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation . The initial purchase was for 285,700 shares at $0.35 per share. Summa Metals Corporation has interests in gold mining properties in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). and Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. , and their management has extensive expertise in the financial markets. Under the agreement, Atlas will become the operating entity for all Summa projects while Summa will be the funding entity. The relationship with Summa will also create capital for Atlas Mining Company projects. By establishing this relationship, Summa Metals will be able to earn a major stock position in Atlas Mining Company. However, no changes are anticipated in the Atlas management or operations. Summa Metals is currently in the process of filing a SB-2 registration statement with the Securities Exchange Commission to allow Summa to raise up to $21 million through a common stock and warrant offering. Atlas president, William Jacobson William Jacobson (1803-1884) was Regius Professor of Divinity at Oxford University (1848–1865) and Bishop of Chester (1865–1884). He married Eleanor Jane Turner, the youngest daughter of the banker Dawson Turner in 1836. Their son was the surgeon W.H.A. Jacobson. , stated that both companies are profit driven resource companies, and that the Summa-Atlas relationship will enhance these efforts. "Both our companies have the same philosophies to be profit driven and to bring additional value to our shareholders. We feel that this arrangement will be good for both Atlas and Summa," stated Jacobson. Atlas Mining Company is a natural resource and mining company with an underground mining contracting business and has silver and timber properties located in the Silver Valley of North Idaho. Atlas also holds the rights to the San Acacio Mine in Zacatecas, Mexico. The company stock is traded under the symbol ALSM. For more information about Atlas contact William Jacobson at 800/356-6463 or the company web site: www.atlasmining.com. MISSION STATEMENT: The Company is in the business of pursuing mining, real estate, and any other commercial related business to promote the profitable interests of the company and its shareholders. |
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