The Prospector News

Aton Announces Bridge Loan

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Aton Announces Bridge Loan

 

 

 

 

Aton Resources Inc. (TSX-V:AAN) announces that it has entered into an additional bridge loan with OU Moonrider a significant shareholder of the Corporation.

 

The Loan

 

The Corporation has borrowed C$2,000,000 from Moonrider, which Loan is repayable on the earlier of 12 months from closing, on the occurrence of various standard events of default, or on the closing of any debt or equity financing by the Corporation in an amount in excess of C$5.0 million. The Loan will bear interest at a rate of 12% per annum, payable when the Loan is due.

 

In connection with the Loan, Moonrider will be issued bonus warrants upon each drawdown on the Loan entitling it to acquire common shares of the Corporation. The number of bonus warrants issuable upon each drawdown shall be determined by dividing the drawdown amount by the share price of the Corporation’s common shares on the date of the drawdown. The bonus warrants will be exercisable for a period of 12 months from each drawdown.

 

The entire Loan has been drawn down, entitling Moonrider to 9,090,909 bonus warrants with an exercise price of $0.22 per share and an expiration date of September 21, 2023.

 

The Loan and the issuance of the bonus warrants is subject to the approval of the TSX Venture Exchange.

 

The proceeds of the Loan will be used by the Corporation for ongoing working capital expenses and continuing its drilling program at Rodruin.

 

About Aton Resources Inc.

Aton Resources Inc. is focused on its 100% owned Abu Marawat Concession located in Egypt’s Arabian-Nubian Shield, approximately 200 km north of Centamin’s world-class Sukari gold mine. Aton has identified numerous gold and base metal exploration targets at Abu Marawat, including the Hamama deposit in the west, the Abu Marawat deposit in the northeast, and the advanced Rodruin exploration prospect in the south of the Concession. Two historic British gold mines are also located on the Concession at Sir Bakis and Semna. Aton has identified several distinct geological trends within Abu Marawat, which display potential for the development of a variety of styles of precious and base metal mineralisation. Abu Marawat is 447.7 km2 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, as are the international airports at Hurghada and Luxor.

Posted September 23, 2022

Share this news article

MORE or "UNCATEGORIZED"


Delta Reports Multiple Gold Intercepts (4.25 g/t Gold over 11.8 metres and 1.37 g/t over 10.5 metres) at new Shabaqua target 1.3 kilometres west of Eureka Gold Deposit

Step-out drilling at Eureka (South and West) gold deposit continu... READ MORE

January 13, 2026

Amerigo Reports Record Q4-2025 Operational Results, Exceeds Revised 2025 Production Target and Provides 2026 Guidance

Q4-2025 Copper Production of 18.9 million pounds – Highest ... READ MORE

January 13, 2026

TDG Extends Southern Limits of Aurora Complex Mineralization 1.25 g/t Au, 0.33% Cu over 128.7 metres

TDG Gold Corp. (TSX-V: TDG) (OTCQX: TDGGF) is pleased to report a... READ MORE

January 13, 2026

Aya Gold & Silver Announces Record Q4 and Full Year 2025 Silver Production

Production of 5 million silver equivalent ounces for the year, in... READ MORE

January 13, 2026

Nova’s RPM Valley Drilling Confirms Continuity of Mineralized System with High-Grade Intercepts and Remains Wide Open in Multiple Directions

Nova Minerals Limited (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) is plea... READ MORE

January 13, 2026

Copyright 2026 The Prospector News