Non-brokered offering sells 36,363,636 shares and 20 million units
By Devika Patel
Knoxville, Tenn., Dec. 5 - Everton Resources Inc. said it will raise C$3 million in a non-brokered private placement of stock and units.
The company will sell 36,363,636 flow-through common shares at C$0.055 apiece and 20 million units of one common share and a half-share warrant at C$0.05 per unit. Each whole warrant is exercisable at C$0.10 for 18 months.
The price per share represents an 83.33% premium to C$0.03, the Dec. 4 closing share price. The warrant strike price is a 233.33% premium to that price.
Settlement is expected Dec. 27.
Marquest Capital Markets and PowerOne Capital Markets Ltd. will be paid finder's fees.
Proceeds will be used for exploration.
Everton is a resource exploration company based in Ottawa.
| Issuer: | Everton Resources Inc.
|
| Issue: | Flow-through common shares, units of one common share and a half-share warrant
|
| Amount: | C$3 million
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 27
|
| Stock symbol: | TSX Venture: EVR
|
| Stock price: | C$0.03 at close Dec. 4
|
| Market capitalization: | C$4.46 million
|
|
|
| Shares
|
| Amount: | C$2 million
|
| Shares: | 36,363,636
|
| Price: | C$0.055
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.05
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.10
|
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