ATON INCREASES PLACEMENT TO C$4.0 MILLION FOR CONTINUED EXPLORATION AT ABU MARAWAT
Vancouver, November 18, 2016: Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation”) is pleased to announce that it has increased the size of its non-brokered private placement of units (“Units”) announced on November 7, 2016 (the “Offering”) from C$3.0 million to C$4.0 million.
The purchase price of the Units in the Offering is C$0.065 per Unit. Each Unit consists of one common share in the capital of the Corporation plus one transferrable share purchase warrant entitling the holder to acquire an additional common share of the Company at a price of $0.08 per common share for a period of five years following closing of the Offering.
Under the increased Offering, the Corporation will issue up to 61,538,461 Units at a price of $0.065 per The Offering may be increased by a further 15% to 70,769,230 (C$4.6 million) at the Corporation’s election.
The net proceeds from the Offering will be used to fund continued exploration and development activities at Aton’s 100% owned Abu Marawat concession, located in Egypt.
Mark Campbell, President and CEO said, “It is extremely encouraging to see such a high level of interest in our offering. I believe that it is a testament, not only to the strength of the Company’s management, directors and exploration team, but to our world class Abu Marawat Concession. We are very grateful to have the strong support of numerous key investors, both new and existing, as we continue to develop our exciting projects.”
Other information respecting the Offering may be found in the Corporation’s November 7, 2016 press release.