Aton Resources Announces Amendment of Terms of Non-Brokered Private Placement
VANCOUVER, British Columbia, Jan. 16, 2018 (GLOBE NEWSWIRE) -- Aton Resources Inc. (TSX-V:AAN) (the “Corporation” or “Aton Resources”) today announces that, further to its press release of January 12, 2018, it has amended the terms of its previously announced non-brokered private placement. The placement will now consist of an offering of up to 37,500,000 units of the Corporation’s shares (“Units”) at a price of $0.04 per Unit for total gross proceeds of up to $1,500,000 (the “Private Placement”). Each Unit will consist of one common share of the Corporation, and one share purchase warrant entitling the holder to acquire an additional common share at a price of $0.05 cents for a period of five years from closing.
Ou Moonrider, which currently holds 39,134,154 or 21.31% of the Corporation’s 183,637,743 common shares, has indicated its intention to purchase 25,000,000 Units for proceeds of $1,000,000.
The closing of the Private Placement is expected to occur on or about January 26, 2018, and is subject to TSXV approval. Please refer to the Corporation’s January 12, 2018 news release for further information about the Private Placement.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Aton Resources Inc.:
Aton Resources Inc. (TSX-V:AAN) is focused on its 100% owned Abu Marawat concession, located in Egypt’s Arabian-Nubian Shield, approximately 400km north of Centamin’s Sukari gold mine. Aton has identified a 40km long gold trend at Abu Marawat, anchored by the Hamama project in the west and the Abu Marawat gold deposit in the east. In addition to the Hamama project and the Abu Marawat gold deposit, the trend contains numerous gold exploration targets, including two historic gold mines. Abu Marawat is over 738 sq. km in size and is located in an area of excellent infrastructure, a four-lane highway, railway line, 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:
President and Chief Executive Officer
Rick Cavaney is Aton Resources’s Vice President of Exploration. He has over forty-five years of experience in the mining industry and was formally an exploration manager with Centamin at Sukari and Abu Marawat for eight years. As a fellow of the Australian Institute of Mining and Metallurgy (Aus.I.M.M), Mr. Cavaney is a competent person under the Joint Ore Resources committee (JORC) Code and is a qualified person, as such term is defined in NI 43-101 of the Canadian Securities Administrators, and he has reviewed and approved this release.
ON BEHALF OF THE BOARD OF ATON RESOURCES INC.
Mark W. Campbell
President & CEO
Cautionary 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 and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.