Aton announces additional bridge loan draw
28 February 2020 - 11:50AM
Aton Resources Inc. (AAN: TSX-V) ("
Aton" or the
"
Corporation") announces that further to its news
release of December 17, 2019, it has drawn an additional $141,000
pursuant to its bridge loan facility (the
"
Facility") with Ou Moonrider
("
Moonrider"). The proceeds of the Facility will
be used by the Corporation to fund further work at its Abu Marawat
Concession, and for general working capital purposes.
In connection with this draw, Moonrider has been
issued 2,820,000 non-transferable warrants exercisable for one
common share at a price of $0.05 per warrant with an expiration
date of February 27, 2021. In connection with the Corporation's
initial draw of $82,000 under the Facility on December 17, 2019,
Moonrider has been issued 1,640,000 warrants exercisable at $0.05
per warrant expiring February 27, 2021.
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 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. Three historic British mines are also
located on the Concession at Sir Bakis, Semna and Abu Garida. 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
over 596 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.
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.
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