Aton announces additional bridge loan draw
VANCOUVER, British Columbia, June 09, 2020 (GLOBE NEWSWIRE) — Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation“) announces that further to its news releases of December 17, 2019 and February 27, 2020, it has drawn an additional $77,000 pursuant to its bridge loan facility (the “Facility“) with Ou Moonrider (“Moonrider“). The proceeds of the Facility will be used by the Corporation to fund further work at its Abu Marawat Concession, and for general working capital purposes.
In connection with this draw, Moonrider has been issued 1,540,000 non-transferable warrants exercisable for one common share at a price of $0.05 per warrant with an expiration date of June 9, 2021. The Corporation has now fully drawn down the $300,000 available to it under the Facility and has issued a total of 6,000,000 non-transferable warrants to Moonrider.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. Three historic British mines are also located on the Concession at Sir Bakis, Semna and Abu Garida. 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 over 596 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:Note Regarding Forward-Looking StatementsSome 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.