Aton Resources Announces Extension Of Non-brokered Private Placement Of Up To $3.0 Million
May 15, 2018 (Vancouver, British Columbia) Aton Resources Inc. (TSX-V: AAN) (the “Corporation” or “Aton”) today announces that, further to its press release dated May 9, 2018, it intends to extend its nonbrokered private placement financing of up to 66,700,000 units (the “Units”) at $0.045 per Unit for total proceeds of up to $3,001,500 (the “Offering”). Each Unit will consist of one common share in the capital of the Corporation (a “Common Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will be transferable and will entitle the holder to acquire one Common Share for five years from the closing date at a price of $0.08. The closing of the Offering is expected to occur on or about May 22, 2018, and is subject to TSXV approval. 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, including advancing its Rodruin discovery, completing its study in support of a commercial discovery at its Hamama project, and furthering its regional drilling program.
“As we have gone over a weekend, we want to give everyone time to be able to get their orders in,” stated Mark Campbell, President and CEO. “The path to achieving one of our goals, obtaining a 20-year mining license at Hamama, along with our exploration extension to be able to develop the potentially substantial Rodruin prospect, are very exciting developments for Aton and our shareholders.”
All securities issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance under applicable Canadian securities laws. The Corporation may pay certain finders fees on certain of the gross proceeds raised from the sales of Shares pursuant to the Offering, yet to be determined and subject to the approval of the TSXV.
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. (AAN: TSX-V) is focused on its 100% owned Abu Marawat concession, located in Egypt’s Arabian-Nubian Shield, approximately 400km north of Centamin’s Sukari gold mine. Aton has Suite 1700 – 666 Burrard Street, Vancouver, BC V6C 2X8 www.atonresources.com identified a 40km long gold trend at Abu Marawat, anchored by the Hamama project in the west and the Abu Marawat gold deposit in the east. In addition to the Hamama project and the Abu Marawat gold deposit, the trend contains numerous gold exploration targets, including two historic gold mines. Abu Marawat is over 738 sq. km in size and is located in an area of excellent infrastructure, a four-lane highway, railway line, a 220kV power line and a water pipeline are in close proximity.
For further information regarding Aton Resources Inc., please visit us at www.atonresources.com or contact:
President and Chief Executive Officer
Rick Cavaney is Aton Resource’s Vice President of Exploration. He has over forty-five years of experience in the mining industry and was formally an exploration manager with Centamin at Sukari and Abu Marawat for eight years. As a fellow of the Australian Institute of Mining and Metallurgy (Aus.I.M.M), Mr. Cavaney is a competent person under the Joint Ore Resources committee (JORC) Code and is a qualified person, as such term is defined in NI 43-101 of the Canadian Securities Administrators, and he has reviewed and approved this release.
ON BEHALF OF THE BOARD OF ATON RESOURCES INC.
Mark W. Campbell
President & CEO
Cautionary 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.