Aton Increases Placement to C$4.0 Million for Continued Exploration at Abu Marawat
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 18, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Aton Resources Inc. (TSX VENTURE:AAN) ("Aton" or the "Corporation") is pleased to announce that it has increased the size of its non-brokered private placement of units ("Units") announced on November 7, 2016 (the "Offering") from C$3.0 million to C$4.0 million.
The purchase price of the Units in the Offering is C$0.065 per Unit. Each Unit consists of one common share in the capital of the Corporation plus one transferrable share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.08 per common share for a period of five years following closing of the Offering.
Under the increased Offering, the Corporation will issue up to 61,538,461 Units at a price of $0.065 per The Offering may be increased by a further 15% to 70,769,230 (C$4.6 million) at the Corporation's election.
The net proceeds from the Offering will be used to fund continued exploration and development activities at Aton's 100% owned Abu Marawat concession, located in Egypt.
Mark Campbell, President and CEO said, "It is extremely encouraging to see such a high level of interest in our offering. I believe that it is a testament, not only to the strength of the Company's management, directors and exploration team, but to our world class Abu Marawat Concession. We are very grateful to have the strong support of numerous key investors, both new and existing, as we continue to develop our exciting projects."
Other information respecting the Offering may be found in the Corporation's November 7, 2016 press release.
About Aton Resources Inc.
Aton Resources Inc. (TSX VENTURE: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.
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.
Contact
Aton Resources Inc.
Mark Campbell
President and Chief Executive Officer
+1-936-689-2589
mcampbell@atonresources.com
Aton Resources Inc.
Blaine Monaghan
Vice President, Investor Relations
+1 (604) 331-5092
ir@atonresources.com