By Sheri Kasprzak
Atlanta, Oct. 21 - Everton Resources said Thursday it is entering the private placement market with a C$3.5 million units deal.
The offering consists of 10 million units of one share and a one-half share purchase warrant at C$0.35 per unit.
The whole warrants are exercisable at C$0.40 for two years from the closing date.
The agents in the deal - Canaccord Capital Corp. and Haywood Securities Inc. - may increase the offering by an additional C$1.05 million.
Everton is an Ottawa gold exploration company. The funds from the financing will be used for gold and base metal exploration and for working capital.
| Issuer: | Everton Resources
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| Issue: | Units of one share and a half-share purchase warrant
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| Amount: | C$3.5 million
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| Shares: | 10 million units
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| Price: | C$0.35 per unit
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| Warrants: | ½ warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.40
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| Placement agent: | Haywood Securities Inc. and Canaccord Capital Corp.
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| Announcement date: | Oct. 21
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| Stock price: | C$0.36 at close Oct. 21
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