Business
Aton Resources announces a non-brokered private placement for proceeds up to $5 million
Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, Feb. 15, 2019 (GLOBE NEWSWIRE) --
About this update from Aton Resources Inc.
[{"type":"text","content":" Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation\") is pleased to announce that it is launching a non-brokered private placement for proceeds of up to $5 million (the “Private Placement”). The net proceeds from the Private Placement will be used to fund continued exploration and development activities at Aton’s Abu Marawat concession, located in Egypt. All currency amounts are in Canadian dollars. Transaction and Private Placement Highlights: Non-brokered Private Placement Financing of up to 100,000,000 units at $0.05 per unit for total proceeds of up to $5,000,000 (the “Units”); Each Unit will consist of one common share in the capital of the Corporation (a “Common Share”) and one half common share purchase warrant (a “Warrant”); Each whole Warrant will be transferable and entitle the holder to acquire one Common Share (a “Warrant Share”) for three years from the Closing Date at a price of $ 0.10; Pursuant to the National Instrument 45-102, Resale of Securities, and possibly TSX Venture Exchange (the “Exchange”) Policy, securities issued pursuant to the Private Placement shall be subject to a restricted resale period of four months commencing on the Closing Date; The securities issued pursuant to the Private Placement are not, and will not be, registered under the 1933 Act. Accordingly, securities acquired by US buyers will be subject to additional restrictions on resale under the 1933 Act; The Private Placement will close on February 28, 2019, or such other date or dates as the Corporation may decide. About Aton Resources Inc. Aton Resources Inc. (AAN: TSX-V) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”), located in Egypt’s Arabian-Nubian Shield, approximately 200km north of Centamin’s Sukari gold mine. Aton has identified a 40km long gold mineralised trend at Abu Marawat, anchored by the Hamama deposit in the west and the Abu Marawat deposit in the east, containing numerous gold exploration targets, including three historic British mines. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of RIRG and orogenic gold mineralisation, VMS precious and base met...