Aton Resources Inc. (TSX-V:AAN) 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 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 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.
All 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. is focused on its 100% owned Abu Marawat Concession, 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.
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