Deal funds exploration on Dominican properties and corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 27 - Everton Resources Inc. said it completed a C$1.6 million non-brokered private placement of units. Insiders invested C$102,000.
The company sold 19,962,500 units of one common share and one warrant at C$0.08 per unit.
The warrants are each exercisable at C$0.15 until Aug. 24, 2014. The strike price reflects a 25% premium to the Aug. 24 closing share price of C$0.12.
Proceeds will be used for exploration of the company's Dominican properties and general corporate and administrative purposes.
Everton is a resource exploration company based in Ottawa, Ont.
| Issuer: | Everton Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,597,000
|
| Units: | 19,962,500
|
| Price: | C$0.08
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Aug. 24, 2014
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Settlement date: | Aug. 27
|
| Stock symbol: | TSX Venture: EVR
|
| Stock price: | C$0.12 at close Aug. 24
|
| Market capitalization: | C$12.84 million
|
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