OTTAWA, ONTARIO--(Marketwired - Feb. 6, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Everton Resources Inc. ("Everton" or the "Corporation") (TSX VENTURE:EVR) announces the closing of the 1st tranche of its non-brokered private placement by issuing 9,995,000 units of the Corporation for gross proceeds of $499,750. Each Unit consisted of one common share (the "Common Share") of the Corporation at a price of $0.05 per Common Share and one-half common share purchase warrant (the "Warrant"). Each whole Warrant entitles the holder thereof to acquire one additional common share in the capital of the Corporation at a price of $0.07 per common share for a period of twenty-four (24) months to expire February 6, 2019.
All securities issued in the private placement are subject to a four-month hold period expiring on June 4, 2017. The proceeds of the financing will be used primarily to complete the phase one drilling program on the Arroyo Carpintero property, advance exploration work in other Dominican Republic properties, and for general working capital requirements
In connection with the closing of the 1st tranche of this private placement, the Corporation will pay cash finder's fees of $23,700. A total of 148,000 Common Shares and 252,000 finder's warrants were also issued. Each finder's warrant entitling the finder to purchase one common share in the capital of the Corporation at a price of $0.07 per finder's warrant for a period of twenty-four (24) months to expire February 6, 2019.
The private placement and the payment of the finder's fees are subject to receipt of applicable regulatory approvals including acceptance of the TSX Venture Exchange (TSX-V).
The second tranche will close next week.
About Everton Resources Inc.
Everton is an exploration company with concessions in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold Corporation (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company which is advancing Everton's interest in the Opinaca B project by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit. Everton recently announced the acquisition of two properties: the Blue Sky Jackpot lithium property in Ontario and the Detour Lake gold property in Quebec.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.