Aton Re­sources re­ceives $1-mil­lion loan from Moon­rider

Stockwatch Daily - - MINES & METALS - Mr. Mark Camp­bell re­ports

ATON RE­SOURCES Inc. has en­tered into a bridge loan fa­cil­ity with Ou Moon­rider, a sig­nif­i­cant share­holder of the cor­po­ra­tion. Pur­suant to the fa­cil­ity, the cor­po­ra­tion will bor­row $1-mil­lion 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 $1.5-mil­lion. The loan will bear in­ter­est at a rate of 10 per cent per an­num, payable when the loan is due. In con­nec­tion with the fa­cil­ity, Moon­rider will be is­sued bonus war­rants en­ti­tling it to ac­quire 18,181,818 com­mon shares of the cor­po­ra­tion at a price of 5.5 cents per share, be­ing the clos­ing price of the cor­po­ra­tion’s com­mon shares on Nov. 8, 2018. The bonus war­rants are ex­er­cis­able for a pe­riod of 12 months from clos­ing. The pro­ceeds of the fa­cil­ity will be used by the cor­po­ra­tion to fi­nance fur­ther ex­plo­ration work at Abu Marawat, and for gen­eral work­ing cap­i­tal pur­poses.

The fa­cil­ity is sub­ject to the ap­proval of the TSX Ven­ture Ex­change.

About Aton Re­sources Inc. Aton Re­sources is fo­cused on its 100-per-cent-owned Abu Marawat con­ces­sion, lo­cated in Egypt’s Ara­bian-Nu­bian Shield, ap­prox­i­mately 200 kilo­me­tres north of Cen­tamin’s Sukari gold mine. Aton has iden­ti­fied a 40-kilo­me­tre-long gold min­er­al­ized trend at Abu Marawat, an­chored by the Ha­mama de­posit in the west and the Abu Marawat de­posit in the east, con­tain­ing nu­mer­ous gold ex­plo­ration tar­gets, in­clud­ing three his­tor­i­cal British mines. Aton has iden­ti­fied sev­eral dis­tinct ge­o­log­i­cal trends within Abu Marawat, which dis­play po­ten­tial for the de­vel­op­ment of RIRG and oro­genic gold min­er­al­iza­tion, VMS (vol­canogenic mas­sive sul­phide) pre­cious and base metal min­er­al­iza­tion, and ep­ither­mal-IOCG- (iron ox­ide cop­per-gold) pre­cious and base metal min­er­al­iza­tion. Abu Marawat is over 738 square kilo­me­tres in size and is lo­cated in an area of ex­cel­lent in­fra­struc­ture, with a four-lane high­way, a 220-kilo­volt power line and a wa­ter pipe­line in close prox­im­ity.

Giles Ed­ward Bayn­ham, Mark Wal­lace Camp­bell, An­thony Paul Cle­ments, Wil­liam Kout­souras, David Charles Laing, Tonno Vahk

(AAN) Shares: 267,783,223

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