Business
Aton Resources withdraws $5 million private placement
Not for distribution to United States newswire services or for dissemination in the United States VANCOUVER, British Columbia, April 16, 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, April 16, 2019 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company\") today announces that it has withdrawn its current financing from the market (please refer to news releases dated February 15, 2019, March 1, 2019 and April 2, 2019). Market conditions for junior mining companies remain difficult despite the quality of the Company’s projects. Despite the significant positive results of its 2018 drilling campaign and the positive changes in the Egyptian fiscal and regulatory regime which are being advanced by the Government of Egypt, the Company will now focus on its financing opportunities including sources of funds in its operating region. The Company is currently in discussions with several parties about revised offering terms and financing structures and will continue to update shareholders and the market as appropriate on progress. 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 metal mineralisation, and epithermal-IOCG precious and base metal mineralisation. Abu Marawat is over 738km2 in size and is located in an area of excellent infrastructure; a four-lane highway, a 220kV power line, and a water pipeline are in close proximity. For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact: MARK CAMPBELL President and Chief Executive Officer Tel: +202-27356548 Email: [email protected] Note Regarding Forward-Looking Statements Some of the statements contained in this release are forward-looking statements. Since forward-looking statements address future events and conditions; by their very nature they involve inherent risks a...