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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: June 27, 1997
Date of earliest event reported: June 28, 1997
ATLAS CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-2714 13-5503312
(State of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
370 SEVENTEENTH STREET, SUITE 3050
DENVER, COLORADO 80202
(Address of principal executive offices)
(303) 629-2440
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
The news release dated June 27, 1997 a copy of which is attached as Exhibit
99 hereto, is incorporated herein by reference and made a part hereof.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ATLAS CORPORATION
Date: June 27, 1997 By: /s/ Gregg B. Shafter
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Gregg B. Shafter
Vice President
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EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ----------- --------
99. News Release dated June 27, 1997 5
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ATLAS CORPORATION NEWS RELEASE
370 SEVENTEENTH STREET, SUITE 3050 NYSE: AZ
DENVER, CO 80202
USA
ATLAS REPURCHASES 7% EXCHANGEABLE DEBENTURES
_____________________________
DENVER, COLORADO - JUNE 27, 1997 ATLAS CORPORATION ("Atlas") said today the
Company closed the repurchase of its 7% Exchangeable Debentures due October 25,
2000 (the "Debentures") on June 25, 1997. The Exchange Agreements with the
Debentures holders provided for the remaining outstanding principal amount of
$9,810,000 together with accrued interest to be repurchased for a combination of
1,500,928 new issue Atlas common shares and 8,313,065 Vista Gold Corp. common
shares owned by Atlas which secured the Debentures.
Mr. Douglas R. Cook, Chairman of the Board of Atlas Corporation, stated, "We
achieved the repurchase of our 7% Enchangeable Debentures thereby eliminating
$700,000 in annual interest charges and removing a substantial liability from
our balance sheet. We will continue to direct our Management efforts and
available cash to expansion of our Bolivian operations, development of
Cornerstone's Tucker Hill perlite production and evaluation of additional
opportunities which will allow us to contribute directly to returning value to
our shareholders."
FOR FURTHER INFORMATION PLEASE CONTACT:
Leslie Young
Director, Investor Relations
Phone: 303-629-2435
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