ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

AAN Aton Resources Inc

0.175
0.00 (0.00%)
15 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Aton Resources Inc TSXV:AAN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.175 0.175 0.18 0 18:07:28

Aton Announces Bridge Loan

05/01/2022 4:19pm

GlobeNewswire Inc.


Aton Resources (TSXV:AAN)
Historical Stock Chart


From Nov 2021 to Nov 2024

Click Here for more Aton Resources Charts.

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 2,941,176 bonus warrants with an exercise price of $0.17 per share and an expiration date of January 4, 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 resuming the drilling program at Rodruin.

“I would like to thank OU Moonrider for their continued support of Aton”, said Tonno Vahk, Aton’s Interim CEO. “This bridge loan is used to finance the ongoing drilling program at Rodruin, while we continue our ongoing discussions with potential strategic investors.”

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.

1 Year Aton Resources Chart

1 Year Aton Resources Chart

1 Month Aton Resources Chart

1 Month Aton Resources Chart

Your Recent History

Delayed Upgrade Clock