Aton to undertake C$4m private placement
Aton Resources is undertaking a nonbrokered private placement to raise C$4-million through the issue of about 7.62-million common shares.
The proceeds of this placement will be applied to further exploration and development activities at Aton’s Hamama project and to general and administrative expenses.
Aton is focused on its 100%-owned Abu Marawat Concession in Egypt’s Arabian-Nubian Shield, where the company has identified numerous gold and base metal exploration targets, including the Hamama deposit in the west.
The placement is subject to the approval of the TSX-V and is expected to close in late July.
Source: Mining Weekly