The funds has been raised by the company by issuing of up to approximately 11.67 million shares at 60 cents per share to institutional and sophisticated investors.
In addition to completing bankable feasibility study on the Gurnee property at the Kodiak coking coal project, the funds will be will be used to conduct JORC resources on Seymour property, Upper Thompson and Project X as well as for Scoping study on the new Upper Thompson project.
Attila executive director Evan Cranston said that the placement support will ensure Attila to remain well funded beyond completion of the BFS on the Kodiak Coking coal project.
"Funds raised pursuant to the Placement will also enable Attila to advance our other projects in the Cahaba basin which have the potential to further improve the already robust economics of the Kodiak Coking Coal project," Cranston added.
"We are looking forward to fast tracking the newly acquired Upper Thompson seam and Project X into the future production profile of our exciting hard coking coal project," Cranston continued.
Attila is planning to complete bankable feasibility study at the end of the first quarter of 2014.
The placement will be completed in two tranches, with up to approximately 5 million shares issued in the first tranche and the balance of up to approximately 6.67 million shares will be issued in second trench.
