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$500,000 from Moonrider, which Loan is repayable on the earlier of six 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.

 

Moonrider will be issued 2,941,176 bonus warrants with an exercise price of $0.17 per share and an expiration date of January 4, 2023.

 

The bonus warrants are 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 resuming the drilling program at Rodruin.

 

I would like to thank OU Moonrider for their continued support of Aton”, said Tonno Vahk, Aton’s Interim CEO. “This bridge loan is used to finance the ongoing drilling program at Rodruin, while we continue our ongoing discussions with potential strategic investors.”

 

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 January 5, 2022

Share this news article

MORE or "UNCATEGORIZED"


Talisker Closes $9.15 Million Private Placement

Talisker Resources Ltd. (TSX: TSK) (OTCQB: TSKFF) is pleased to a... READ MORE

August 11, 2022

GoGold Releases 2022 Q3 Financial Results

GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to an... READ MORE

August 11, 2022

Bunker Hill Discovers High-Grade Silver Mineralization

HIGHLIGHTS New high-grade silver and lead vein system discovered ... READ MORE

August 11, 2022

Goliath Drills 59.1 Meters of Continuous Sulphide Mineralization Confirming a Mineralized Footprint of 5.25 Square Kilometers; System Remains Wide Open in All Directions

Drill Highlights: 100% of all holes completed to date on the Sure... READ MORE

August 11, 2022

Titan Reports Record Production from Empire State Mines on Q2 2022 Results

Titan Mining Corporation (TSX: TI) announces the results for the... READ MORE

August 11, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News