Aton announces the closing of the second and final tranche of its private placement
June 27 2019 - 5:13PM
Aton Resources Inc. (AAN: TSX-V) (“
Aton” or the
“
Company") is pleased to announce that it has
closed the second and final tranche of its previously announced
non-brokered private placement (see news releases dated May 14 and
June 7, 2019). In the second tranche, a total of 8,700,000 common
shares (each a “
Share”) were issued at $0.025 per
Share, for proceeds of $217,500, bringing the total funds raised in
both tranches of the Private Placement to $1,117,500.
“We are pleased to announce that we have closed
the second and final tranche of our financing”, commented Mark
Campbell, President and CEO. “This tranche saw the addition of more
regional investors, who comprise a steadily growing group of new
shareholders for the Company. Aton is fortunate and grateful to
have our very supportive cornerstone investors who have once again
participated alongside our new regional investors. The funds being
raised will allow us to continue exploration at our Abu Marawat
Concession area.”
Use of Private Placement
ProceedsThe net proceeds from the Private Placement will
be used to fund continued exploration and development activities at
Aton’s Abu Marawat concession, located in Egypt and for general
corporate purposes.
Additional TermsAll Shares
issued in the second tranche of the Private Placement will be
subject to a four month hold period from the date of issuance,
expiring October 28, 2019, in accordance with applicable securities
laws.
In connection with the second tranche of the
Private Placement, the Company paid finder’s fees of 8% cash on
certain subscriptions, totaling $16,000.
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: MARK
CAMPBELL President and Chief Executive Officer Tel: +202-27356548
Email: mcampbell@atonresources.com
Note Regarding Forward-Looking
StatementsSome 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.
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