Aton Resources Announces Extension of Non-Brokered Private Placement of up to $1.0 Million
Not for distribution to United States newswire services or for dissemination in the United States.
VANCOUVER, British Columbia, Jan. 12, 2018 (GLOBE NEWSWIRE) -- Aton Resources Inc. (TSX-V:AAN) (the “Corporation” or “Aton Resources”) today announces that it has extended its previously announced non-brokered private placement offering of up to 25,000,000 common shares (the “Common Shares”) at a price of $0.04 per Share (the “Private Placement”), for total gross proceeds of up to $1,000,000. The closing of the Offering is now expected to occur on or about January 26, 2018, and is subject to TSXV approval. 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, including advancing the regional drilling program, geophysical work along the Waayrah-Miranda VMS trend, metallurgical test work required to assess recoveries of the established resources at Hamama West and Abu Marawat, and for working capital purposes.
Participation in the Placement is open to all shareholders who held the Corporation’s common shares on September 26, 2017 (the “Record Date”). Each purchaser of Shares will be required to complete a subscription agreement, which confirms, among other things, the availability of an exemption from the prospectus requirements of applicable securities laws in respect of the sale of Shares to such purchaser. Eligible shareholders wishing to participate in the Placement are invited to contact the Corporation to obtain a subscription agreement. In the event of over-subscription, the Corporation will determine allocations between shareholders at its sole discretion. Persons who did not hold common shares of the Corporation on the Record Date may also participate in the Placement.
“As we have had more interest, we want to give everyone time to participate,” Stated Mark Campbell President and CEO. “The path to achieving one of our goals, obtaining a 20-year mining license at Hamama, along with our exploration extension to be able to develop the potentially substantial Rodruin prospect, are very exciting developments for Aton and our shareholders.”
Additional Terms
All securities issued pursuant to the Private Placement 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 Private Placement, 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. (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:
Mark Campbell
President and Chief Executive Officer
Tel: +1-936-689-2589
Email: mcampbell@atonresources.com
Qualifying Person:
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.
For more information on Aton Resources, visit us at www.atonresources.com or please contact:
Mark W. Campbell President and Chief Executive Officer Email: mcampbell@atonresources.com
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.