Deal funds exploration expenditures on company's Pueblo Viejo property
By Devika Patel
Knoxville, Tenn., Aug. 29 - Everton Resources Inc. said it completed a C$1.75 million non-brokered private placement of units.
The company sold 6,983,840 units of one common share and one half-share warrant at C$0.25 per unit.
The whole warrants are each exercisable at C$0.35 until Aug. 25, 2013. The strike price reflects a 52.17% premium to the Aug. 26 closing share price of C$0.23.
Proceeds will be used for exploration expenditures on Everton's Pueblo Viejo property in the Dominican Republic and for general corporate and administrative purposes.
Everton is a resource exploration company based in Ottawa, Ont.
Issuer: | Everton Resources Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1,745,960
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Units: | 6,983,840
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Price: | C$0.25
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Aug. 25, 2013
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Warrant strike price: | C$0.35
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Agent: | Non-brokered
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Settlement date: | Aug. 29
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Stock symbol: | TSX Venture: EVR
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Stock price: | C$0.21 at close Aug. 29
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Market capitalization: | C$22.51 million
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