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EVR Everton Resources Inc

0.025
0.00 (0.00%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Everton Resources Inc TSXV:EVR 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% 0.025 0.095 0.095 0 01:00:00

Everton Finalizes the Linear Gold Caribe Share Purchase Agreement for Dominican Republic Concessions

03/03/2014 12:30pm

Marketwired Canada


Everton Resources Inc. ("Everton" or the "Company") (TSX
VENTURE:EVR)(FRANKFURT:ERV) is pleased to announce that it has finalized the
definitive agreement with Brigus Gold Corp. ("Brigus") pursuant to which Brigus
granted Everton the right to acquire 100% of the outstanding shares of Linear
Gold Caribe, a wholly-owned subsidiary of Brigus. Linear Gold Caribe holds the
Brigus' interest in the Ampliacion Pueblo Viejo, Ponton and La Cueva Concessions
located in the Dominican Republic. 


Under the finalized agreement, Everton will pay $175,000, of which $25,000 has
already been received by Brigus, in cash and has issued 6,000,000 common shares
(on a pre-consolidation basis). There is also a sliding-scale net smelter
returns royalty equal to 1.0% when the price of gold is less than US$1,000 per
ounce, 1.5% when the price of gold is between US$1,000 and US$1,400 per ounce,
and 2.0% when the price of gold is above US$1,400 per ounce. Everton has also
issued Brigus a promissory note for an amount equal to the greater of CAD$5
million or the value of 5,000,000 common shares of Everton. Pursuant to an
amending agreement executed by the parties, the promissory note will be payable
in cash only upon the completion of either (i) a National Instrument 43-101
compliant measured and indicated resource estimate on the Concessions of a
minimum one million ounces of gold equivalent ("AuEq") (at an average grade of
2.5 g/t AuEq or higher for APV and 1.5 g/t AuEq or higher for Ponton and La
Cueva) or (ii) the sum of actual gold production from the Concessions plus a
National Instrument 43-101 compliant measured and indicated resource estimate on
the Concessions (at an average grade of 2.5 g/t AuEq or higher for APV and 1.5
g/t AuEq or higher for Ponton and La Cueva) equaling 1 million ounces of AuEq.


Linear Gold Caribe assets consist of US$ 1.4 million in mineral rights costs
capitalized to the Ampliacion Pueblo Viejo, Ponton and La Cueva Concessions. As
at November 30, 2013 Linear had a contributed surplus of US$ 4.1 million and a
deficit of US$ 2.7 million.


About Everton Resources Inc. 

Everton is actively exploring in the Dominican Republic adjacent to the Pueblo
Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold
Company (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also
holds an interest in the Opinaca region of James Bay, Quebec where the Company
has partnered with Hecla Mining Company (formerly Aurizon Mines Ltd.) which is
advancing Everton's interest by funding 100% of all exploration work on one of
the largest land packages adjacent to Goldcorp's Eleonore gold deposit. 


For further information on Everton Resources Inc., please visit
www.evertonresources.com.


Everton Resources Inc.

Andre Audet, Chairman and CEO 

This news release contains certain forward-looking statements that involve risks
and uncertainties, such as statements of Everton's plans, objectives,
strategies, expectations and intentions. The words "may", "would", "could",
"will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions, as they relate to Everton, or its management, are intended
to identify such forward-looking statements. Many factors could cause Everton's
actual results, performance or achievements to be materially different any
future results, performance or achievements that may be expressed or implied by
such forward-looking statements. The forward-looking statements included in this
press release represent Everton's views as of the date of the release. While
Everton anticipates that subsequent events and developments may cause its views
to change, it specifically disclaims any obligation to update these
forward-looking statements, except in accordance with applicable securities
laws. Accordingly, readers are advised not to place undue reliance on
forward-looking information. All subsequent written and oral forward-looking
statements attributable to Everton or persons acting on its behalf are expressly
qualified in their entirety by this notice. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Everton Resources Inc.
Andre Audet
Chairman and CEO
613-241-2332
613-424-5682 (FAX)
andre@evertonresources.com
www.evertonresources.com

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