Aton Announces Private Placement of up to $2 Million
24 February 2022 - 9:30AM
Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation") is
pleased to announce a non-brokered private placement for proceeds
of up to $2 million (the “Private Placement”). The net proceeds
from the Private Placement will be used to fund continued
exploration and development activities at Aton’s Rodruin and Hamama
concessions, located in Egypt, and for general working capital. All
currency amounts are in Canadian dollars.
Transaction and Private Placement
Highlights:
- Non-brokered Private Placement financing of up to 13,333,333
common shares at $0.15 per common share for total proceeds of up to
$2,000,000 (the “Shares”);
- The Shares issued pursuant to the Private Placement shall be
subject to a restricted resale period of four months commencing on
the Closing Date;
- The Private Placement is open to existing shareholders of the
Corporation, who are invited to contact the Corporation if they are
interested in participating;
- Depending on other subscriber interest, OU Hektik, a
significant shareholder of the Corporation, may subscribe for up to
$2,000,000 of the Private Placement; and
- The Private Placement may close in one or more tranches.
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. 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.
For further information regarding Aton Resources Inc., please
visit us at www.atonresources.com or contact:
Tonno VahkInterim CEO Tel: +1 604 318 0390Email:
info@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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