OTTAWA, ONTARIO--(Marketwired - June 24, 2016) -
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 8,070,000 units of the Corporation for gross proceeds of $403,500. 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.
The Corporation has also issued 1,210,000 flow through common shares at a price of $0.05 per share of the Corporation for gross proceeds of $60,500.
All securities issued in the private placement are subject to a four-month hold period expiring on October 25, 2016. The proceeds of the financing will be used to advance exploration work in Dominican Republic and in Canada and also for working capital.
In connection with the private placement, the Company will pay a cash finder's fee of $36,120. A total of 722,400 broker warrants were also issued to the finders, with each broker warrant entitling the finder to purchase a broker unit of the Company at a price of $0.05 per broker unit for a period of two years from the date of closing of the private placement. Each broker unit comprises one common share and one half of a broker unit warrant. Each broker unit warrant entitles the finder to purchase one common share at an exercise price of $0.07 per common share for a period of twenty-four (24) months from the closing date.
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).
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.
For further information on Everton Resources Inc., please visit www.evertonresources.com.
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.