Aton announces extension of non-brokered private placement for proceeds up to $5 million

Not for distribution to United States newswire services or for dissemination in the United States

VANCOUVER, British Columbia, March 01, 2019 (GLOBE NEWSWIRE) -- Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Corporation") today announces that, further to its press release dated February 15, 2019, it intends to extend its non-brokered private placement financing of up to 100,000,000 units (the “Units”) at $0.05 per Unit for total proceeds of up to $5,000,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Corporation (a “Common Share”) and one half of one common share purchase warrant (each whole warrant a “Warrant”). Each Warrant will be transferable and will entitle the holder to acquire one Common Share for three years from the closing date at a price of $0.10. The closing of the Offering is expected to occur on or about March 31, 2019, and is subject to approval by the TSX Venture Exchange (the “TSXV”).  The net proceeds from the Offering will be used to fund continued exploration and development activities at Aton’s Abu Marawat concession, located in Egypt.  All currency amounts are in Canadian dollars.

“Following on from the game-changing announcement that the Ministry of Petroleum and Mineral Resources and the Egyptian Mineral Resources Authority are taking wide ranging changes in Egypt’s mining regime to attract new exploration investors. Along with their granting us an extension at our Abu Marawat Concession, we wanted all investors to have the ability to participate in our financing.” Stated Mark Campbell President and CEO. “We are on the path to achieving our goals, of our exploration through an aggressive drilling program this year at Rodruin and the highest priority of our 17 other targets. These are very exciting developments for Aton and its 2019 exploration program for our shareholders, and we want to give everyone the opportunity to share in these historic and exciting developments and exploration and development program in 2019.” 

Additional Terms:

All securities issued pursuant to the Offering will be subject to a four-month hold period from the date of issuance under applicable Canadian securities laws. The Corporation may pay certain finders fees on certain of the gross proceeds raised from the sales of Shares pursuant to the Offering, yet to be determined and subject to the approval of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.