Aton announces completion of debt settlement
VANCOUVER, British Columbia, April 26, 2021 (GLOBE NEWSWIRE) – Aton Resources Inc. (AAN: TSX-V) (“Aton” or the “Company”) is pleased to announce that following its April 12 press release , 2021, the Company has a total of $ 116,348.49 in debt (the “Debt”) to directors and employees in exchange for 484,785 shares of common stock (the “Shares”) at a price of $ 0.24 per share (the “Shares for the Debt transaction “). ).
Certain Debt Transaction Shares are “related party transactions” under applicable securities laws, as Directors Bill Koutsouras, Tonno Vahk and Anthony Clements and former Director David Laing (collectively the “Insiders”) participated in the Debt Transaction Shares. Each of the insiders abstained from voting on approving the stock transaction that affected them. Each of these debt transaction stocks is exempt from the formal valuation and minority approval requirements under Multilateral Instrument 61-101 as neither the value of the issued shares nor the total debt associated with the debt transaction interests in relation to directors of the company is 25% of the Exceed the company’s market capitalization as of the date of this agreement.
All shares in issue are subject to a four month hold period expiring on August 24, 2021 and no new controller will be created on the shares for debt transactions.
About Aton Resources Inc.
Aton Resources Inc. (AAN: TSX-V) is focused on its 100% owned Abu Marawat Concession (“Abu Marawat”) located in Egypt’s Arab-Nubian Shield approximately 200 km north of Centamin’s premier Sukari gold mine is located. Aton has identified numerous gold and base metal exploration targets at Abu Marawat, including the Hamama deposit to the west, the Abu Marawat deposit to the northeast and the Rodruin advanced exploration project to the south of the concession. There are also two historic British gold mines at Sir Bakis and Semna on the concession. Aton has identified several distinct geological trends within Abu Marawat that have potential for the development of a variety of precious and base metal mineralizations. Abu Marawat is 447.7 km2 large and located in an area with excellent infrastructure; a four-lane motorway, a 220 kV power line and a water pipe are in the immediate vicinity, as are the international airports of Hurghada and Luxor.
For more information on Aton Resources Inc. please visit us at www.atonresources.com or contact:
Tel: +1 345 525 2512
Email: [email protected]
Cautionary Note on Forward-Looking Statements
Some of the statements contained in this press release are forward-looking statements. Because forward-looking statements address future events and conditions; by their very nature, they involve inherent risks and uncertainties. In any event, the actual results could differ materially from the results currently expected in such statements.
Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.