Aton Resources Inc.
TSX VENTURE : AAN

Aton Resources Inc.

July 06, 2016 08:30 ET

Aton Resources Inc. Announces Shares for Debt Transaction and Grant of Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 6, 2016) - Aton Resources Inc. (TSX VENTURE:AAN) (the "Corporation" or "Aton") announces today that it has entered into an agreement to settle CAD$310,454.66 of debt owed by its wholly owned subsidiary Aton Mining Inc. through the issuance of 6,209,093 common shares at a deemed price of $0.05 per share.

The shares for debt transaction is subject to the approval of the TSX Venture Exchange.

The Corporation also announces that it has granted 6,200,000 stock options to directors, officers and consultants to the Corporation. The options entitle the holders to purchase one common share for each option held at a price of $0.07 per share for a period of 5 years. The options were granted pursuant to the Corporation's rolling stock option plan which was approved at the Corporation's last Annual General Meeting.

About Aton Resources Inc.

Aton Resources Inc. (TSX VENTURE:AAN) is a focused gold exploration company, working in Egypt exploring for and developing economic gold deposits in the Central Eastern Desert of the Arabian-Nubian Shield (ANS). The Company's 100%-owned concessions, Abu Marawat and the Fatiri, combined cover 2,772 square kilometers of underexplored ground. Evidence of gold on the concessions dates the many surface workings to pre-historic (Copper Age) and Old Kingdom (Pharaonic), through Ptolemaic and Roman and into Early Arab times and the early 20th century European period. Several historic gold mines and numerous gold showings and gossans occur within the two concessions.

The Company's land package is located some 400 km southeast of Cairo and is enhanced by expanding infrastructure, including access to highway and railway right-of-way, a high-capacity electricity grid, and nearby major cities; Qena, on the Nile River, and Port of Safaga, on the Red Sea, only 50 km to the East.

ON BEHALF OF THE BOARD OF ATON RESOURCES INC.,

Mark W. Campbell, President & CEO

Cautionary Note Regarding Forward-Looking Statements

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

Contact Information

  • Aton Resources Inc.
    Mark W. Campbell
    President and CEO
    +1-936-689-2589