By Devika Patel
Knoxville, Tenn., March 11 - Everton Resources Inc. said it has arranged a C$3 million non-brokered private placement of units.
The company will sell 12 million units of one common share and one half-share warrant at C$0.25 each. The whole warrants are exercisable at C$0.40 each for two years.
Settlement is expected March 24.
Proceeds will be used to fund the company's exploration activities, continue drilling gold-copper targets on the Dominican Republic projects and define the gold resources on its Shoal Lake projects.
Everton is a resource exploration company based in Ottawa.
| Issuer: | Everton Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Units: | 12 million
|
| Price: | C$0.25
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.40
|
| Agent: | Non-brokered
|
| Pricing date: | March 11
|
| Settlement date: | March 24
|
| Stock symbol: | TSX Venture: EVR
|
| Stock price: | C$0.26 at close March 10
|
| Market capitalization: | C$20.1 million
|
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