Aton Announces Bridge Loan
27 Janvier 2022 - 7:04PM
Aton Resources Inc. (AAN: TSX-V) ("Aton" or the "Corporation")
announces that it has entered into an additional bridge loan (the
"
Loan") with OU Moonrider
("
Moonrider"), a significant shareholder of the
Corporation.
The Loan
The Corporation has borrowed C$500,000 from
Moonrider, which Loan is repayable on the earlier of six months
from closing, on the occurrence of various standard events of
default, or on the closing of any debt or equity financing by the
Corporation in an amount in excess of C$5.0 million. The Loan will
bear interest at a rate of 12% per annum, payable when the Loan is
due.
Moonrider will be issued 2,173,913 bonus
warrants with an exercise price of $0.23 per share and an
expiration date of January 26, 2023.
The bonus warrants are subject to the approval
of the TSX Venture Exchange.
The proceeds of the Loan will be used by the
Corporation for ongoing working capital expenses and continuing the
drilling program at Rodruin.
“OU Moonrider continues to support Aton to see
the Corporation through the ongoing drilling program at
Rodruin”, said Tonno Vahk, Aton’s Interim CEO.
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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