May 14 (Reuters) - Atlantic Gold Corp AGB.V :
* C$2.90 PER SHARE CASH CONSIDERATION IMPLIES A TOTAL EQUITY VALUE FOR ATLANTIC OF APPROXIMATELY C$722 MILLION
* ST BARBARA TO ACQUIRE ATLANTIC IN FRIENDLY OFFER FOR C$802 MILLION (NOTE 2)
* ATLANTIC GOLD - SHAREHOLDERS WILL RECEIVE C$2.90 IN CASH PER ATLANTIC SHARE HELD PLUS SHARES IN SPINCO THAT HOLDS ATLANTIC'S INTERESTS IN VELOCITY MINERALS LTD
* FOLLOWING COMPLETION OF TRANSACTION, SPINCO INTENDS TO RAISE FUNDS VIA PRIVATE PLACEMENT AND APPLY FOR A LISTING ON TSX-V
* SAYS CASH OFFER IS NOT SUBJECT TO A FINANCING CONDITION
* ATLANTIC GOLD- ST BARBARA INTENDS TO RAISE A$490 MILLION THROUGH CONCURRENT UNDERWRITTEN ACCELERATED NON-RENOUNCEABLE ENTITLEMENT TO PARTLY FUND DEAL
* BALANCE OF DEAL WILL BE FUNDED VIA ST BARBARA'S EXISTING CASH RESERVES
* ATLANTIC GOLD - ST BARBARA ALSO SECURED NEW COMMITTED A$200 MILLION 3 YEAR CORPORATE FACILITY WITH WESTPAC BANKING CORPORATION TO SUPPORT COMBINED CO