Aton Announces Closing of $2 Million Private Placement
April 22 2022 - 4:54PM
Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation") is
pleased to announce that it has closed its previously announced
non-brokered private placement (see news release dated February 23,
2022) (the “Private Placement”). A total of 13,333,333 common
shares (each a “
Share”) were issued at $0.15 per
Share, for proceeds of $2,000,000.
Pursuant to National Instrument 62-103 - The
Early Warning System and Related Take Over Bid and Insider
Reporting Issues, OU Hektik (“Hektik”) acquired an
aggregate of 12,763,333 Shares in the Private Placement.
Immediately prior to the Private Placement, Hektik held 6,031,891
common shares. With the acquisition of the Shares in the Private
Placement, Hektik now holds 18,795,224 common shares, representing
approximately 33.55% of the outstanding common shares of the
Corporation.
Prior to the closing of the Private Placement,
disinterested shareholders holding over 50% of the Corporation’s
common shares confirmed their approval of Hektik becoming a Control
Person (as defined below) of the Corporation.
A “Control Person” means any company or
individual that holds or is one of a combination of persons that
holds a sufficient number of any of the securities of an issuer so
as to affect materially the control of that issuer, or that holds
20% or more of the outstanding voting shares of an issuer, except
where there is evidence showing that the holder of those securities
does not materially affect the control of the issuer, subject to
TSXV review and approval.
The acquisition of the Shares by Hektik was
effected for investment purposes. Hektik may from time to time
acquire additional securities of Aton, dispose of some or all of
the existing or additional securities it holds or will hold, or may
continue to hold its current position.
The early warning report, as required under
National Instrument 62-103, contains additional information with
respect to the foregoing matters and will be filed by Hektik on
Aton’s SEDAR profile at www.sedar.com.
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 Rodruin and Hamama concessions, located in Egypt, and for
general working capital. All currency amounts are in Canadian
dollars.
Additional Terms
All Shares issued in the Private Placement will
be subject to a four month hold period from the date of issuance,
expiring August 23, 2022, in accordance with applicable securities
laws.
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
(“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 Vahk Interim CEO Tel: +1 604 318 0390 Email:
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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