Aton announces the closing of the first tranche of its private placement of up to C$1.5 million
June 07 2019 - 3:30PM
Aton Resources Inc. (AAN: TSX-V) (“
Aton” or the
“
Company") is pleased to announce that it has
closed the first tranche of its previously announced non-brokered
private placement (see news release dated May 14, 2019). In the
first tranche, a total of 36,000,000 common shares (each a
“
Share”) were issued at $0.025 per Share, for
proceeds of $900,000.
“We are pleased to announce that we have a
closed the first tranche of our $1.5M financing,” commented
Mark Campbell, President and CEO. “Aton is
fortunate have our very supportive cornerstone investors who have
once again participated. The funds being raised now will allow us
to continue exploration at our Abu Marawat Concession area, but at
the same time await the investor friendly reforms coming in Egypt
to the mining terms and conditions, which investors are waiting to
see and we believe will be enacted before the year-end.”
Pursuant to National Instrument 62-103 - The
Early Warning System and Related Take Over Bid and Insider
Reporting Issues, OU Moonrider (“Moonrider)
acquired an aggregate of 35,000,000 Shares in the private
placement. With the acquisition of the Shares, Moonrider now holds
approximately 32.27% of the outstanding common shares of the
Company.
The acquisition of the Shares by Moonrider was
effected for investment purposes. Moonrider may from time to time
acquire additional securities of Aton, dispose of some or all of
the existing or additional securities it holds or will hold, or may
continue to hold its current position.
The early warning report, as required under
National Instrument 62-103, contains additional information with
respect to the foregoing matters and will be filed by Moonrider on
Aton’s SEDAR profile at www.sedar.com.
Use of Private Placement
Proceeds
The 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 Terms
All Shares issued in the Private Placement will
be subject to a four month hold period from the date of issuance,
expiring October 8, 2019, in accordance with applicable securities
laws.
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
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.
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