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Adyton Resources Announces $4 Million Brokered Private Placement
BRISBANE, Australia, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Adyton Resources Corporation (TSX Venture: ADY) (“Adyton” or the “Company”) is pleased to announce that i
About this update from Adyton Resources Corporation
[{"type":"text","content":" BRISBANE, Australia, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Adyton Resources Corporation (TSX Venture: ADY) (“Adyton” or the “Company”) is pleased to announce that it has entered into a letter engagement with Eight Capital, under which Eight Capital, acting as agent for the Company, has agreed to offer for sale up to 80,000,000 units of the Company (the “Units”) on a “best efforts” private placement basis at an issue price of $0.05 per Unit (the “Issue Price”), for aggregate gross proceeds of up to $4,000,000, subject to all regulatory approvals (the “Offering”). Each Unit will be comprised of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share at an exercise price of $0.06 per Share, for a period of 36 months following the closing of the Offering. The Company has granted Eight Capital an over-allotment option to distribute up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part at any time within 48 hours prior to the closing of the Offering. The Company intends to use the net proceeds of the Offering for exploration activity at the Fergusson Island and Feni Island projects, and for working capital and general corporate purposes. The closing date of the Offering is scheduled to be on or about December 21, 2021, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws. ON BEHALF OF THE BOARD OF ADYTON RESOURCES CORPORATION Frank Terranova, Chairman, President and Chief Executive Officer For further information please contact: Frank Terranova, Chairman, President and Chief Executive Officer...