Aton seeks to raise C$3m in private placement
TSX-V-listed Aton Resources has announced that it is initiating a nonbrokered private placement to generate potential proceeds of up to C$3-million.
The net revenue obtained from the private placement will be allocated for the continuation of exploration and development activities within Aton's Rodruin and Hamama concessions in Egypt, as well as for general operational capital purposes.
A notable shareholder of the corporation, OU Moonrider, has proposed to settle an outstanding debt of more than C$6.3-million through the issuance of common shares.
Additionally, Moonrider has exercised certain outstanding share purchase warrants owned in the company.
Both the private placement and shares for debt transaction are expected to be finalised by about October 10, subject to the receipt of approval from the TSX-V.
The nonbrokered private placement will provide an opportunity to acquire up to about 13.6-million common Aton shares at a rate of C$0.22 a common share, yielding total potential proceeds of up to C$3-million.
The private placement is accessible to existing Aton shareholders.
Depending on interest from other subscribers, Moonrider may potentially subscribe for up to C$2-million of the private placement.
The private placement may be executed in one or more segments.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
