Aton announces extension of 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, March 01, 2019 - Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation") today announces that, further to its press release dated February 15, 2019, it intends to extend its non-brokered private placement financing of up to 100,000,000 units (the “Units”) at $0.05 per Unit for total proceeds of up to $5,000,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Corporation (a “Common Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will be transferable and will entitle the holder to acquire one Common Share for three years from the closing date at a price of $0.10. The closing of the Offering is expected to occur on or about March 31, 2019, and is subject to approval by the TSX Venture Exchange (the “TSXV”). The net proceeds from the Offering 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.
“Following on from the game-changing announcement that the Ministry of Petroleum and Mineral Resources and the Egyptian Mineral Resources Authority are taking wide ranging changes in Egypt’s mining regime to attract new exploration investors. Along with their granting us an extension at our Abu Marawat Concession, we wanted all investors to have the ability to participate in our financing.” Stated Mark Campbell President and CEO. “We are on the path to achieving our goals, of our exploration through an aggressive drilling program this year at Rodruin and the highest priority of our 17 other targets. These are very exciting developments for Aton and its 2019 exploration program for our shareholders, and we want to give everyone the opportunity to share in these historic and exciting developments and exploration and development program in 2019.”
All securities issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance under applicable Canadian securities laws. The Corporation may pay certain finders fees on certain of the gross proceeds raised from the sales of Shares pursuant to the Offering, yet to be determined and subject to the approval of the TSXV.
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. (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:
President and Chief Executive Officer
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.