Aton Announces Bridge Loan
22 Septembre 2022 - 11:15PM
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$2,000,000 from
Moonrider, which Loan is repayable on the earlier of 12 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.
In connection with the Loan, Moonrider will be
issued bonus warrants upon each drawdown on the Loan entitling it
to acquire common shares of the Corporation. The number of bonus
warrants issuable upon each drawdown shall be determined by
dividing the drawdown amount by the share price of the
Corporation’s common shares on the date of the drawdown. The bonus
warrants will be exercisable for a period of 12 months from each
drawdown.
The entire Loan has been drawn down, entitling
Moonrider to 9,090,909 bonus warrants with an exercise price of
$0.22 per share and an expiration date of September 21, 2023.
The Loan and the issuance of the bonus warrants
is 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 its
drilling program at Rodruin.
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. |
Aton Resources (TSXV:AAN)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Aton Resources (TSXV:AAN)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024