Everton Closes $1.745 million Private Placement Financing
August 29 2011 - 3:31PM
Marketwired Canada
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.
Everton Resources Inc. (TSX VENTURE:EVR)(FRANKFURT:ERV) ("Everton" or the
"Corporation") is pleased to announce it has completed a non brokered private
placement of 6,983,840 units (each, a "Unit") of Everton at a price of $0.25 per
Unit for gross proceeds of $1,745,960 (the "Offering"). Each Unit consists of
one common share and one-half of one common share purchase warrant. Each whole
warrant entitles the holder to purchase one common share at a price of $0.35 per
share for a period of 24 months ending August 25, 2013. Insiders participated in
the Offering for total gross proceeds of $25,000.
In connection with the Offering, the Corporation paid finders' fees totalling
$113,200 and issued 452,800 non-transferable warrants, each warrant entitling
the holder thereof the right to acquire one common share of the Corporation at a
price of $0.35 for a period of 24 months ending August 25, 2013. All securities
issued in connection with the Offering are subject to a four month hold period
expiring December 26, 2011.
The proceeds of the private placement will be used for exploration expenditures
on Everton's Pueblo Viejo property in the Dominican Republic and for general
corporate and administrative purposes.
About Everton Resources Inc.
The Corporation holds a 50% interest in the Ampliacion Pueblo Viejo ("APV") and
La Cueva projects (the "Concessions"), which are managed by Everton and are
contiguous with Barrick's and Goldcorp's US$3 billion Pueblo Viejo gold project.
Planned divestiture of its 100%-owned subsidiary Hays Lake Gold containing the
Shoal Lake Gold Project in Kenora, Ontario is expected to provide internal
funding to advance the APV project. Everton also holds an interest in the
Opinaca region of James Bay, Quebec where the Corporation has partnered with
Aurizon Mines Ltd. who is advancing Everton's interest by funding 100% of all
exploration work on one of the largest land packages adjacent to Goldcorp's
Eleonore gold deposit.
Cautionary Note
This news release contains certain forward-looking statements that involve risks
and uncertainties, such as statements of Everton's plans, objectives,
strategies, expectations and intentions. The words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions, as they relate to Everton, or its management, are intended
to identify such forward-looking statements. Many factors could cause Everton's
actual results, performance or achievements to be materially different any
future results, performance or achievements that may be expressed or implied by
such forward-looking statements. The forward-looking statements included in this
press release represent Everton's views as of the date of the release. While
Everton anticipates that subsequent events and developments may cause its views
to change, it specifically disclaims any obligation to update these
forward-looking statements, except in accordance with applicable securities
laws. Accordingly, readers are advised not to place undue reliance on
forward-looking information. All subsequent written and oral forward-looking
statements attributable to Everton or persons acting on its behalf are expressly
qualified in their entirety by this notice.
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